Texas Launches $10 Million Bitcoin Reserve With ETF Buy

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Texas Makes History: $10M Bitcoin Reserve Kicks Off With ETF Purchase

Written by Aaron S.,

Editor-In-Chief

Last Updated: November 26, 2025

Key Takeaways

Texas invested $5 million in BlackRock’s iShares Bitcoin Trust (IBIT) as a temporary way to gain Bitcoin exposure with public funds;
Once a Bitcoin custodian is selected, the state plans to move $5 million from IBIT into directly held Bitcoin wallets;
The decision follows Texas’ new Strategic Bitcoin Reserve law, which allocates $10 million to crypto investments under state oversight.

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Texas Makes History: $10M Bitcoin Reserve Kicks Off With ETF Purchase

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Texas has invested public funds in Bitcoin BTC $87,639.28 by purchasing $5 million in iShares Bitcoin Trust (IBIT) shares, a spot Bitcoin exchange-traded fund (ETF) managed by BlackRock.

Lee Bratcher, head of the Texas Blockchain Council, explained in a post on X that since the government's system for holding Bitcoin directly is not yet complete, funds have been placed in IBIT as a temporary solution.

Once a proper custodian has been selected through a public process, Texas intends to transfer at least $5 million from IBIT shares to actual Bitcoin, held in wallets controlled by the state government.

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The ETF holding is only part of the plan. The other part of the funds set by the new law, also $5 million, remains for direct Bitcoin storage.

Eric Balachinas, Bloomberg senior ETF analyst, stated in a post on X that Texas has joined "Harvard and Abu Dhabi" in purchasing IBIT.

He added, "Pretty sure that’s the only ETF to ever be owned by all three. More wild stuff for a not-yet-even-two-years-old fund".

This investment aligns with a framework established in June, when Governor Gregg Abbot authorized the Texas Strategic Bitcoin Reserve. The law set aside $10 million for cryptocurrency investments and outlined steps to build state-level crypto reserves under clear rules.

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