Bitcoin Updates: Texas Breaks New Ground as First U.S. State to Allocate $10M for Bitcoin Holdings

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Bitcoin Updates: Texas Breaks New Ground as First U.S. State to Allocate $10M for Bitcoin Holdings

Bitget-RWA2025/11/25 23:12

By:Bitget-RWA

- Texas becomes first U.S. state to allocate $10M to a Bitcoin reserve via BlackRock's IBIT ETF, using surplus funds under Senate Bill 21. - The $5M purchase at $87,000/coin is temporary, with plans to transition to self-custody solutions by the Comptroller's office in coming months. - The move aligns with growing institutional Bitcoin adoption, mirroring Harvard and Abu Dhabi's investments, and positions Texas as a crypto-friendly policy leader. - Representing 0.0004% of Texas's biennial budget, the reser

Texas Sets Precedent as First U.S. State to Create

Bitcoin

Reserve with $10 Million Commitment

Texas has made history by being the first state in the U.S. to dedicate public resources to a Bitcoin reserve, acquiring $5 million in Bitcoin via BlackRock's IBIT ETF as part of a larger $10 million plan. This initiative,

revealed on November 20, 2025

, is a major milestone in Texas’s strategy to broaden its treasury assets and establish itself at the forefront of digital asset policy. The purchase, funded by surplus budget, is a component of Senate Bill 21,

passed in June 2025

, which introduced the Strategic Bitcoin Reserve to serve as both an inflation hedge and a long-term value store.

The state’s first $5 million investment was made through the IBIT ETF,

securing Bitcoin at an average rate

of $87,000 per Bitcoin. Officials clarified that this holding is temporary,

as Texas intends to move to direct self-custody

once the state finalizes its selection of secure storage solutions, which may include cold storage or multi-institutional arrangements. The Comptroller’s office is

managing this transition

, anticipated to be completed in the near future.

This move has drawn parallels to institutional Bitcoin investments by organizations like Harvard University,

which recently increased its IBIT holdings threefold

to $442.8 million, as well as Abu Dhabi’s Al Warda Investments, which also more than tripled its IBIT investment in the third quarter.

These developments highlight a rising trend

of institutional participation, with Bitcoin being increasingly regarded as a “store of value” similar to gold.

Texas’s move has captured nationwide interest,

especially as it supports broader initiatives

to position the state as a leader in the crypto sector. Governor Greg Abbott has been a strong supporter of blockchain technology, advocating for laws that protect mining operations and launching task forces to study digital assets.

The establishment of the reserve reflects similar efforts

seen in states like Arizona and New Hampshire, but Texas stands out as the first to allocate real funds to such a program.

Although the $10 million reserve accounts for only 0.0004% of Texas’s two-year budget, officials emphasize its importance as a challenge to traditional asset management models.

With the state’s custody system still being developed

, the next steps are expected to prioritize transparency, including yearly audits and public disclosures.

As more institutions show interest in Bitcoin, Texas’s trailblazing move underscores the shifting landscape of digital assets in government finance and may inspire other states to reconsider their own treasury approaches.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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