Texas has bought $5 million of BlackRock’s iShares Bitcoin Belief (IBIT), changing into the primary U.S. state to achieve publicity to Bitcoin by way of a spot ETF designated for a Strategic Bitcoin Reserve.
The transaction passed off on November twentieth at an estimated value of $87,000 per Bitcoin, in keeping with Texas Blockchain Council President Lee Bratcher, who first reported the acquisition.
CORRECTION: Texas bought $5M on Nov. twentieth. $10M is allotted from normal income however not all $10M has been allotted.@BitcoinMagazine
— Lee ₿ratcher (@lee_bratcher) November 25, 2025
State officers stated the IBIT buy is a short lived measure whereas Texas completes its request-for-proposal course of to self-custody digital belongings.
“Texas will ultimately self-custody Bitcoin,” Bratcher stated, “however whereas that RFP course of takes place, this preliminary allocation was made with BlackRock’s IBIT ETF.”
Texas started exploring the idea of a state-held Bitcoin reserve final 12 months.
Laws establishing the Strategic Bitcoin Reserve was signed into regulation in June, authorizing the state to amass and maintain Bitcoin with out utilizing taxpayer funds.
Bratcher, who leads an business affiliation representing greater than 100 corporations, supported the event of the laws and labored with lawmakers because it superior by way of the state Senate.
Earlier proposals from State Consultant Giovanni Capriglione included long-term chilly storage necessities, annual audits, resident donation choices, and provisions enabling state companies to transform different cryptocurrencies into Bitcoin.
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