The state of Florida has launched a new formal effort to establish a treasury based on Bitcoin (BTC).
The bill, SB 1038, along with proposals HB 1039 and SB 1040, seeks to create the “Florida Strategic Virtual Currency Reserve.” This would be under the control of the state’s chief financial officer (CFO).
This initiative Happens after HB 487 and SB 550 project failures As reported by CriptoNoticias, these were postponed indefinitely at the end of the last Congress.
SB 1038 after being formally introduced by Senator Joe Gruters on December 30, 2025 and referred to three major Senate committees This was for technical and financial evaluation.
The committee is banking and insurance. Agriculture, Environment and General Government Expenditures. And the challenges. This is shown in the prospectus below.
Investing in Bitcoin or Bitcoin ETFs
In this new cycle, the proposal maintains the following intentions: Authorize investment of up to 10% of specified public funds Many, including pension plans with billions of dollars under management, are invested directly in Bitcoin or Bitcoin exchange-traded funds (ETFs).
According to the text of SB1038, purchases are limited to assets with an average market capitalization of more than $500 billion. Currently, only Bitcoin reaches this metric, at over $1.79 trillion.
The proposed structure includes the creation of a five-member advisory committee to oversee allocation policy. If approved, These projects will take effect on July 1, 2026.. Therefore, it will strengthen Florida as the institutional center of BTC adoption in the United States.