New Hampshire Becomes the First State to Allow Its Public Funds to Invest in Crypto Assets

New Hampshire has become the first state to allow the investment of its public funds into crypto assets.

The state's governor, Kelly Ayotte, signed the new law on Tuesday.

The bill, which was passed by the state legislature earlier this year, permits the treasurer to invest a portion of the state's idle treasury funds into digital assets.

The bill also requires that any digital asset in which the treasurer invests must have a market capitalization of at least $500 billion.

This requirement currently limits the options to bitcoin (BTC).

"New Hampshire is once again first in the Nation," Ayotte, a Republican who's in her first year in office, posted on X. "I'm proud to sign legislation allowing the state to invest a portion of its treasury funds in digital assets."

The bill's passage comes after a number of states had set their sights on launching such reserves this year.

Several lawmakers had hoped to get measures to their governors' desks by mid-spring, but that goal was never quite met.

Recently, the push had run into roadblocks, with Florida lawmakers pulling their own effort and Arizona's governor vetoing a similar measure.

But North Carolina remains a strong contender, because its effort is being championed by a prominent lawmaker.

President Donald Trump had called for his administration to set up its own bitcoin reserve and a separate crypto stockpile, though the Treasury Department is still examining what the federal government has on hand that can be redirected into those eventual funds.output: New Hampshire has become the first state to permit the investment of public funds in crypto assets, with its governor signing the new law on Tuesday.

The state beat a number of others to the punch this year as what had started as a surge in state lawmaker momentum had run into roadblocks over recent weeks.

As the first to authorize its treasurer to set up such a reserve, New Hampshire could very well beat the U.S. government in forming a stockpile, too.

"New Hampshire is once again first in the Nation," New Hampshire Governor Kelly Ayotte, a Republican who's in her first year in office, posted on social media site X.

The New Hampshire bill allows the investment of up to 5% of public funds in a digital asset that has at least $500 billion in market capitalization, currently leaving bitcoin (BTC) as the only qualifying asset.

"We're incredibly excited about the win that has occurred in New Hampshire," said Dennis Porter, founder of the Satoshi Action Fund that's been pushing state lawmakers to pursue reserves.

"The first one's the hardest, by far," Porter told CoinDesk in an interview. "Having a state that's already gotten it done, it'll really increase the political momentum."

State House Republicans in New Hampshire also posted on X Tuesday, boasting that their state is "OFFICIALLY the first state to lay the groundwork for a strategic bitcoin reserve."

"The Live Free or Die state is leading the way in forging the future of commerce and digital assets," they wrote.

Arizona had been the first state to get a similar measure to its governor's desk, but the legislation was vetoed, though other bills are still awaiting the governor's consideration there. Florida has also withdrawn its own effort, joining a number of other states where the reserve push has fizzled. But North Carolina remains a strong contender, because its effort is being championed by a prominent lawmaker.

President Trump had called for his administration to set up its own bitcoin reserve and a separate crypto stockpile, though the Treasury Department is still examining what the federal government has on hand that can be redirected into those eventual funds.

Read More: Trump's Crypto Sherpa Bo Hines Says Crypto Legislation on Target for Quick Completion

UPDATE (May 6, 2025, 17:46 UT