ARIZONA HOUSE OF REPRESENTATIVES

57th Legislature, 2nd Regular Session

Majority Research Staff

Senate: GOV DP 4-3-0-0 | Third Read 16-11-3-0

House: WM DP 5-3-0-0

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note

SCR1033: state retirement systems; digital assets

Sponsor: Senator Hoffman, LD 15

Caucus & COW

Overview

Encourages Arizona State Retirement System (ASRS) and Public Safety Personnel Retirement System (PSPRS) to monitor digital asset exchange traded funds (ETF) and consider the implication, feasibility, risk and potential benefits of investment in digital asset ETFs.

History

The financial health of ASRS depends on being able to generate optimal returns from investments while minimizing risk, assuring the security of retirement benefits while keeping down ongoing funding costs. ASRS is invested in nearly all sectors of the market, including the major indexes (ASRS.gov).

With a current value of $25 billion, PSPRS portfolio is designed to produce solid investment returns while reducing the risk of losing money.  This approach is taken to ensure that the system’s 60,000 members and retirees receive the benefits promised to them and that 302 participating employers’ contributions grow over time to cover those benefits. Investments include publicly traded and international stocks, real estate and different types of private equity (PSPRS.gov).

Provisions

1.   Encourages ASRS and PSPRS to closely monitor the developments of digital asset ETFs and to consider consulting with any firms that have been granted United States Securities Exchange Commission approval, to offer a digital asset ETF. (Sec. 1)

2.   Encourages ASRS and PSPRS to consider implications of including a digital asset ETF in their investment portfolios. (Sec. 1)

3.   Encourages ASRS and PSPRS to submit a comprehensive report on the feasibility, risk and potential benefits of directing a portion of state retirement system monies into digital asset ETFs including a list of options and recommendations for how Arizona might safely invest in the digital asset class to the Arizona Treasurers office, the President of the Senate and the Speaker of the House of Representatives at least three months before the beginning of the 58th legislature. (Sec. 1)

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7.   Initials VP/CS                 SCR 1033

8.   3/25/2026  Page 0 Caucus & COW

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