Hassan Maishera
TL;DR
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Texas has purchased $5 million worth of Bitcoin ETFs as it builds the state’s digital asset reserve.
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The spokesperson revealed that the investment is a placeholder for the first direct state-funds investment.
Texas Invests $5M in BlackRock’s Bitcoin ETF
Texas has taken a bold step by purchasing $5 million of BlackRock's bitcoin exchange-traded fund.
The state officials told CoinDesk that Texas is still setting up its Texas Strategic Bitcoin Reserve. Last week, the state comptroller's office moved to secure $5 million in BlackRock’s iShares Bitcoin Trust (IBIT) as a placeholder, a spokesman for the Texas Comptroller of Public Accounts told CoinDesk on Tuesday.
According to the Spokesperson, the investment is an opening move as Texas continues to work toward a contract with a custodian.
While the move signals confidence in the cryptocurrency market, Texas is not the first state entity to invest in a crypto ETF. Several states have previously invested in crypto ETFs with public-employee retirement money. Michigan has been building such an investment, and Wisconsin sold its $350 million pension-fund stake in the BlackRock ETF in May.
In addition to that, New Hampshire and Arizona are also working hard to build their digital assets reserve. Although New Hampshire was first in the nation to pass legislation, it's still working on its reserve project.
New Hampshire state Representative Keith Ammon recently revealed that the state hasn’t made any moves yet, but they have been pursuing other crypto avenues, including authorizing a $100 million bitcoin bond through the New Hampshire Business Finance Authority last week
Arizona is also making moves toward reserving crypto, with legislation earlier this year that would devote state-collected unclaimed crypto properties to build a stockpile.
Lee Bratcher, president of the Texas Blockchain Council, congratulated the state for purchasing the Bitcoin ETFs.
TEXAS BOUGHT THE DIP!
— Lee ₿ratcher (@lee_bratcher) November 25, 2025
Texas becomes the FIRST state to purchase Bitcoin with a $10M investment on Nov. 20th at an approximately $87k basis!
Congratulations to Comptroller @KHancock4TX and the dedicated investments team at Texas Treasury who have been watching this market… pic.twitter.com/wsMqI9HrPD
