The New Hampshire committee has approved HB 302, a bill allowing investments in digital assets and precious metals, potentially positioning the state at the forefront of cryptocurrency integration in public fund management.
Key Provisions of HB 302
On March 5, 2025, the committee voted 16-1 in favor of HB 302, introduced by Republican Representative Keith Ammon. The bill authorizes the state treasurer to allocate up to 5% of specific state funds into eligible digital assets and precious metals, including gold, silver, and platinum. To qualify for investment, a cryptocurrency must have maintained an average market capitalization of at least $500 billion over the past year—a criterion currently met solely by Bitcoin.
Safeguarding Digital Investments
Recognizing the unique challenges of digital asset management, HB 302 mandates that any cryptocurrency holdings be secured through "secure custody solutions." This includes exclusive access to cryptographic private keys, engagement with qualified custodians, or investment in regulated exchange-traded products (ETPs). Such measures aim to ensure the safety and integrity of the state’s digital investments.
A Growing Trend Among States
New Hampshire’s initiative aligns with a broader movement across the United States. States like Texas, Ohio, and Pennsylvania have introduced similar legislation incorporating Bitcoin into their financial reserves. This trend reflects a growing recognition of cryptocurrency’s potential as a hedge against economic uncertainties and inflation.
With committee approval secured, HB 302 now advances to the New Hampshire House floor for further consideration. If enacted, the bill would position New Hampshire as a pioneer in state-level cryptocurrency investment, potentially influencing other states to follow suit. As digital assets continue to gain prominence, New Hampshire’s proactive approach could serve as a model for integrating innovative financial instruments into public fund management.
