Multiple U.S. States Propose Bills for Bitcoin Reserve Funds

Several U.S. states are advancing legislation to enable crypto investments:

Maryland's delegate Caylin Young proposed a bitcoin reserve fund, planning a hearing on March 6.
Kentucky's House Bill 376 seeks to authorize the State Investment Commission to invest in digital assets and bullion, mentioning stablecoins with U.S. approval and digital assets with a market cap over $750 billion.
Iowa introduced House File 246, using the same market cap criteria as Kentucky.
Utah's proposal allows a 5% allocation of certain public funds to crypto, while North Dakota rejected a similar plan.

David Tawil of ProChain Capital noted a competitive push among large investors, including municipalities and pension funds, to accumulate bitcoin as a reserve asset amidst economic uncertainties. Federal plans for bitcoin purchases remain unclear, but state-level activities are increasing.