Florida lawmakers have introduced a package of bills that would create a state-run reserve of digital assets, with eligibility rules that currently leave bitcoin as the only qualifying asset.
Bills and structure
Rep. John Snyder filed House Bill 1039, backed in the Senate by Joe Gruters.
Gruters also sponsored companion measures, SB 1038 and SB 1040, which would set up a trust structure to manage and fund the reserve.
The bills lay out how Florida could acquire, hold, and govern any eligible assets.
Eligibility effectively limits the reserve to bitcoin
The proposal limits inclusion to assets averaging at least a $500 billion market capitalization over a 24-month period.
Based on the thresholds described in the bills, bitcoin is currently the only asset that qualifies, with a market cap above $1 trillion.
Funding sources and timeline
The legislation lists potential funding sources including legal recoveries, revenue, purchases, and digital asset rewards.
Gruters framed the effort as a long-term portfolio strategy.
He said in a statement:
“This plan reflects an investment strategy that accounts for market shifts and economic transformation.”
The bills include a conditional effective date of July 1, 2026.
Other states and prior efforts
Florida’s effort follows moves elsewhere, including Texas and New Hampshire.
New Hampshire’s framework allows its treasurer to allocate up to 5% of public funds to qualifying digital assets.
The article also notes earlier Florida attempts, including HB 487 and SB 550, which were withdrawn in May 2025.
At the federal level, it cites President Trump’s March 2025 executive order establishing a Strategic Bitcoin Reserve.
