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Texas purchased $5 million of BlackRock’s Bitcoin ETF (exchange-traded fund) and earmarked one other $5 million for a direct BTC buy.
Texas Blockchain Council president Lee Bratcher mentioned in an X submit that the state authorities executed the Bitcoin buy on Nov. 20, when Bitcoin was buying and selling close to $87,000.
The transfer follows Governor Greg Abbott’s approval of a state-managed Bitcoin reserve earlier this yr..
”Texas will eventual self-custody bitcoin, however whereas that RFP course of takes place, this preliminary allocation was made with @BlackRock‘s IBIT ETF,” Bratcher mentioned on X.
Bloomberg ETF analyst Eric Balchunas mentioned Texas joins Harvard and Abu Dhabi in shopping for BlackRock’s IBIT, including that he’s “fairly certain that’s the one ETF to ever be owned by all three.”
“Extra wild stuff for a not-yet-even-two-years-old fund,” he added.
State of Texas becoming a member of Harvard and Abu Dhabi in latest $IBIT buy. Fairly certain that is the one ETF to ever be owned by all three. Extra wild stuff for a not-yet-even-two-years-old fund. https://t.co/uJHJKfKsO3
— Eric Balchunas (@EricBalchunas) November 25, 2025
Bitcoin’s worth continues to hover close to the $87k stage and traded at $87,243.14 as of 1:04 a.m. EST after falling 1% prior to now 24 hours, in accordance with CoinMarketCap.
Texas’s purchase got here after IBIT had plummeted over 24% within the final month. Balchunas mentioned in a Nov. 24 submit on X that quick curiosity round IBIT had “plummeted,” whereas including that it “wasn’t precisely excessive to start with at 2% of shares.”
Texas Not The First To Buy Shares In IBIT
Whereas Bratcher claimed in his X submit that Texas has grow to be the primary state to purchase IBIT shares, the state of Wisconsin really bought IBIT shares in Could final yr. In line with filings, Wisconsin’s funding board purchased nearly $100 million price of the spot Bitcoin ETF’s shares then.
Wisconsin then greater than doubled its publicity to the fund, earlier than promoting its complete stake within the ETF earlier this yr, the most recent filings present.
US Spot Bitcoin ETFs Report Inflows In Newest Buying and selling Session
The Texas BTC buy got here amid a multi-day outflow streak for the spot Bitcoin ETF market within the US.
Knowledge from Farside Traders reveals that between Nov. 12 and Nov. 24, the funds had solely seen two days of web each day inflows. Throughout this era, IBIT had solely seen in the future of web each day inflows.
US spot BTC ETF flows (Supply: Farside Traders)
On Nov. 18, IBIT had additionally suffered its worst single-day outflows since its market debut in early 2024, when traders pulled $523 million from the funding product.
Within the newest buying and selling session, IBIT was in a position to snap its outflows streak with $83 million web each day inflows on the day. The buying and selling session’s largest inflows of $170.8 million have been posted by Constancy’s FBTC, which was sufficient to cancel out the outflows seen by Bitwise’s BITB, Ark Make investments’s ARKB, and VanEck’s HODL.
General, the funds noticed collective web each day inflows of $128.7 million.
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