On April 28, the Arizona House of Representatives passed two Bitcoin reserve bills, allowing the state treasury and retirement systems to invest up to 10% of available funds in Bitcoin and other digital assets. If signed by the governor, it will take effect, making Arizona potentially the first "pioneer" in the nation.

Currently, at least 24 states are advancing similar legislation, while 5 states have rejected proposals due to market volatility, security risks, and other issues.

The policy direction of the Trump administration has provided support for state-level actions. If more states follow suit, it could create hundreds of billions of dollars in institutional demand in the future, accelerating the mainstream adoption of cryptocurrencies.

The continuation of this trend depends on market performance, regulatory consensus, and the legislative processes of various states. The direction of U.S. cryptocurrency policy in the next six months is worth paying attention to.