Utah’s bill aims to allow the investment of public funds in Bitcoin and other digital assets, progressing to a Senate committee following an 8-1 vote in the House.

The legislation defines qualifying digital assets as those with a market cap exceeding 500 billion USD, which includes Bitcoin, currently valued at 1.9 trillion USD.

If enacted by May 7, 2025, Utah will be the first state to pass such legislation, aiming to lead in digital asset investment among U.S. States.