Analysis: The momentum of the U.S. strategic Bitcoin reserve is penetrating to the state level

According to DL News, the possibility of Trump creating a national Bitcoin reserve was a major factor in driving the cryptocurrency market to new heights. Now, the momentum of strategic Bitcoin reserves in the United States is seeping down to state level, for example:

Florida is taking steps to establish its strategic Bitcoin reserve as early as the first quarter of 2025;
Pennsylvania is still formulating its own Bitcoin strategic reserve bill, which was launched in November and is expected to invest 10% of the state's general fund in Bitcoin;

The goal of Florida and Pennsylvania is to directly purchase Bitcoins, but other states like Michigan and Wisconsin have chosen a more conservative route by investing in ETFs and trust funds related to Bitcoin:

SEC filings show that as of September, Michigan held $11 million worth of ARK 21Shares Bitcoin ETF;
Wisconsin Investment Committee holds over $220 million worth Grayscale and BlackRock's bitcoin ETF stocks.