{"id":18346,"date":"2025-11-25T22:08:30","date_gmt":"2025-11-25T21:08:30","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=18346"},"modified":"2025-11-25T22:08:30","modified_gmt":"2025-11-25T21:08:30","slug":"texas-invests-5-million-in-blackrocks-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/11\/25\/texas-invests-5-million-in-blackrocks-bitcoin-etf\/","title":{"rendered":"Texas Invests $5 Million in BlackRock’s Bitcoin ETF"},"content":{"rendered":"

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On November 20, Texas made a big move<\/a> by becoming the first state in the U.S. to scoop up Bitcoin for its Strategic Reserve. They bought a whopping $5 million worth at around $87,000 per BTC, thanks to insights from Lee Bratcher, the President of the Texas Blockchain Council.<\/p>\n

The purchase took place through BlackRock\u2019s<\/a> iShares Bitcoin Trust (IBIT), all while Texas works on plans for self-custody of the asset.<\/p>\n

This exciting step highlights how states are becoming more interested in using Bitcoin as a reserve asset. Last year, Texas explored strategic Bitcoin legislation<\/a> to set up a reserve without tapping into taxpayer dollars.<\/p>\n

In June, the Texas governor signed<\/a> the new law into action, officially creating the state\u2019s Strategic Bitcoin Reserve.<\/p>\n

But it\u2019s not just Texas; institutional investors are jumping on the bandwagon too! Harvard University\u2019s endowment recently<\/a> tripled its holdings in IBIT, now totaling $442.8 million, making it the university\u2019s biggest publicly known investment.<\/p>\n

Plus, Emory University and Abu Dhabi\u2019s Al Warda Investments are also boosting their Bitcoin ETF investments.<\/p>\n

Currently, Bitcoin is trading at about $87,500, which is around<\/a> 30% lower than its all-time high. Lee Bratcher was the first<\/a> to break this exciting news!<\/p>\n

\u201cTexas will eventually manage its Bitcoin on its own,\u201d Bratcher noted, \u201cbut while we sort that out, this initial acquisition was made through BlackRock\u2019s IBIT ETF.\u201d<\/p>\n

Bratcher, who is the President and Founder of the Texas Blockchain Council, leads an industry group with over 100 member companies and a wide array of individuals advocating for Texas as a standout hub for Bitcoin and blockchain innovation.<\/p>\n

He has been a passionate advocate for the state\u2019s Bitcoin reserve legislation, working diligently<\/a> to guide it through the state Senate.<\/p>\n

Texas isn\u2019t the only state keen on Bitcoin<\/h2>\n

Last year, in the legislation put forward<\/a> by Texas State Representative Giovanni Capriglione, the proposal was to set up a Strategic Bitcoin Reserve for the state.<\/p>\n

The legislation suggested that the state could buy and hold Bitcoin as a strategic asset, securely store it for at least five years, welcome donations from residents, and let state agencies accept and convert cryptocurrencies into Bitcoin.<\/p>\n

Transparency was a key focus, with plans for yearly audits and reports. It drew inspiration from a federal proposal by President Donald Trump and Senator Lummis, reflecting the growing global interest in Bitcoin.<\/p>\n

Earlier this month, New Hampshire became<\/a> the first government globally to greenlight a $100 million Bitcoin-backed municipal bond. The state\u2019s Business Finance Authority (BFA) authorized this bond, enabling private firms to borrow against over-collateralized Bitcoin held in custody, with the repayment risk pinned solely on the collateral.<\/p>\n

Borrowers will need to provide about 160% of the bond\u2019s value in Bitcoin, and automated liquidation safeguards bondholders in case of value dips. Fees and any BTC value increases will fund the state\u2019s Bitcoin Economic Development Fund.<\/p>\n

This exciting move follows<\/a> the earlier creation of a Strategic Bitcoin Reserve in New Hampshire and Arizona.<\/p>\n<\/div>\n


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On November 20, Texas made a big move by becoming the first state in the U.S. to scoop up Bitcoin for its Strategic Reserve. They bought a whopping $5 million worth at around $87,000 per BTC, thanks to insights from Lee Bratcher, the President of the Texas Blockchain Council. The purchase took place through BlackRock\u2019s<\/p>\n","protected":false},"author":3,"featured_media":18347,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[4370],"class_list":{"0":"post-18346","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-gptreturn-a-list-of-comma-separated-tags-from-this-title-texas-buys-5-million-of-blackrocks-spot-bitcoin-etf-gpt"},"yoast_head":"\nTexas Invests $5 Million in BlackRock's Bitcoin ETF - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/11\/25\/texas-invests-5-million-in-blackrocks-bitcoin-etf\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Texas Invests $5 Million in BlackRock's Bitcoin ETF - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"On November 20, Texas made a big move by becoming the first state in the U.S. to scoop up Bitcoin for its Strategic Reserve. 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