Arizona SCR 1033: State Retirement Systems Digital Assets

SCR 1033 encourages ASRS and PSPRS to monitor developments in Bitcoin ETFs and other digital asset ETFs. The measure also asks the systems to consider the implications of including such assets in their investment portfolios after, to the extent possible, consulting with firms approved by the U.S. Securities and Exchange Commission to offer a digital asset ETF.

• ETF monitoring: The systems are encouraged to follow Bitcoin and broader digital asset ETF developments.
• Portfolio review: The resolution asks the systems to consider potential implications of ETF exposure for retirement portfolios.
• Consultation: The text refers to consultation, where possible, with SEC-approved ETF providers.
• Reporting: The systems are encouraged to submit a report on feasibility, risks, benefits, options, and recommendations.

SCR 1033 was introduced in the Arizona Senate on January 27, 2026. The Senate Government Committee reported the resolution do pass on February 4. The Senate passed the measure on third reading on February 25 by a 16-11 vote, with three members not voting, and transmitted it to the House the same day.

In the House, the measure was read for the first time and assigned to Rules and Ways & Means on March 2, then read a second time on March 3. On March 25, the House Ways & Means Committee reported the resolution do pass by a 5-3 vote. As of this profile’s verification date, the measure had not been reported as passed by the House or transmitted as finally adopted.

SCR 1033 should be read narrowly. It would encourage monitoring, analysis, consultation, and a report; it would not, by itself, create a crypto reserve, mandate a portfolio allocation, authorize a specific purchase, or replace existing fiduciary and investment-governance standards applicable to Arizona retirement systems.

The requested report would address the feasibility, risk, and potential benefits of directing a portion of state retirement system monies into digital asset ETFs. It would also include options and recommendations for how Arizona might safely invest in the digital asset class. The report would be sent to the State Treasurer’s office, the Senate President, and the House Speaker at least three months before the beginning of the Fifty-eighth Legislature, First Regular Session.