Texas Drops $10 Million On Bitcoin, Officially | Crypto News
Texas has moved public money into Bitcoin publicity, shopping for $5 million value of shares in a regulated Bitcoin exchange-traded fund.
According to stories, the state’s buy was made on November 20, 2025, and it used the BlackRock iShares Bitcoin Trust (IBIT) to gain price publicity without immediately holding the cryptocurrency itself.
The state set apart a whole allocation of $10 million for its new Strategic Bitcoin Reserve. Lee Bratcher, who leads the Texas Blockchain Council, confirmed the state’s crypto buy on X.
State Uses ETF As Interim Step
Reports have disclosed that officers selected the ETF route as a momentary measure while the state places custody plans in place.
The IBIT shares give Texas a stake that tracks Bitcoin’s market strikes. Based on stories, the entry price equated to roughly $87,000 per BTC at the time of the buy.
The buy represents half of the overall allocation, leaving $5 million still out there for future strikes.
TEXAS BOUGHT THE DIP!
Texas turns into the FIRST state to buy Bitcoin with a $10M investment on Nov. twentieth at an roughly $87k foundation!
Congratulations to Comptroller @KHancock4TX and the devoted investments crew at Texas Treasury who have been watching this market… pic.twitter.com/wsMqI9HrPD— Lee ₿ratcher (@lee_bratcher) November 25, 2025
The transfer follows laws handed earlier in the yr. According to public information, the reserve program was created by Senate Bill 21, signed in June 2025.
The law authorizes a capped finances for the reserve and units circumstances for what belongings qualify. Reports have disclosed that Bitcoin met the factors laid out in the measure, prompting the initial allocation.
What Officials Say And What Comes Next
According to state officers, the acquisition is supposed as a hedge and a manner to diversify long-term holdings. An RFP course of is anticipated to decide a custodian, with officers planning to switch from ETF positions to direct custody once systems are prepared. The request for proposals is slated for early 2026, based on public statements.
Analysts famous the excellence between ETF shares and direct possession. ETF holdings present price publicity; they don’t give the state direct control over on-chain Bitcoin wallets. That control would come only after the state completes its custody procurement and shifts belongings into cold storage or comparable options.
Possible Broader Effects
Market observers say the acquisition is notable because it marks one of the first situations of a US state formally putting public funds into Bitcoin publicity.
The quantity is small relative to broader markets, yet symbolic. It could immediate other states to take into account comparable reserve methods, particularly where lawmakers favor diversification.
Transparency And Oversight
According to public filings, the state will publish particulars of the holdings and any custody plan updates. Oversight mechanisms constructed into the law require common reporting, and the remaining $5 million allocation must observe the same guidelines before it’s used. That reporting will likely be watched carefully by lawmakers, taxpayers, and market watchers.
The shopping for determination was made amid vast debate over how authorities our bodies ought to deal with crypto belongings. Texas plans to transfer rigorously, utilizing regulated merchandise first and then shifting toward self-custody when the correct safeguards and distributors are chosen.
Featured image from Pexels, chart from TradingView
Stay up to date with the latest trending crypto news! Visit our web site daily for the freshest Crypto news and content, rigorously curated to keep you informed.
