{"id":115670,"date":"2025-11-25T19:13:57","date_gmt":"2025-11-25T19:13:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=115670"},"modified":"2025-11-25T19:13:57","modified_gmt":"2025-11-25T19:13:57","slug":"texas-becomes-first-u-s-state-to-buy-10m-of-blackrocks-spot-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=115670","title":{"rendered":"Texas Becomes First U.S. State to Buy $10M of BlackRock\u2019s Spot Bitcoin ETF"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Texas Becomes First U.S. State to Buy $10M of BlackRock\u2019s Spot Bitcoin ETF<\/a><\/p>\n

<\/div>\n

On November 20, Texas became the first<\/a> U.S. state to buy Bitcoin for its Strategic Reserve, acquiring $10 million at roughly $87,000 per BTC, according to Lee Bratcher, President of the Texas Blockchain Council. <\/p>\n

The purchase was made through BlackRock\u2019s<\/a> iShares Bitcoin Trust (IBIT) while the state finalizes plans for self-custody.<\/p>\n

The move signals growing state-level interest in Bitcoin as a reserve asset. Texas had previously explored<\/a> strategic Bitcoin legislation last year, wanting to create a Bitcoin reserve without using taxpayer funds.\u00a0<\/p>\n

In June of this year, the Texas governor signed<\/a> the legislation into law, creating a state Strategic Bitcoin Reserve.<\/p>\n

Institutional investors are increasingly following suit. Harvard University\u2019s endowment recently<\/a> tripled its IBIT holdings to $442.8 million, making it the university\u2019s largest publicly disclosed investment.\u00a0<\/p>\n

Emory University and Abu Dhabi\u2019s Al Warda Investments have also significantly increased Bitcoin ETF exposure.<\/p>\n

Bitcoin\u2019s price is currently trading near $87,500, roughly<\/a> 30% below its all-time high. Lee Bratcher was the first<\/a> to disclose this news.\u00a0<\/p>\n

\n

JUST IN: Texas becomes first state to purchase $10 million of BlackRock’s spot #Bitcoin<\/a> ETF, according to the Texas Blockchain Council. pic.twitter.com\/2b2nURZVid<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) November 25, 2025<\/a>\n<\/p><\/div>\n

\u201cTexas will eventual self-custody bitcoin,\u201d Bratcher said, \u201cbut while that RFP process takes place, this initial allocation was made with BlackRock\u2019s IBIT ETF.<\/p>\n

Bratcher is the President and Founder of the Texas Blockchain Council, an industry association with over 100 member companies and hundreds of individuals promoting Texas as a hub for Bitcoin and blockchain innovation.\u00a0<\/p>\n

He actively championed the state\u2019s Bitcoin reserve legislation, working on the ground<\/a> to guide it through the state Senate.<\/p>\n

Texas isn\u2019t the only state interested in buying bitcoin\u00a0<\/h2>\n

In the legislation explored last year<\/a>, Texas State Representative Giovanni Capriglione filed a bill to create a Strategic Bitcoin Reserve for the state.\u00a0<\/p>\n

The legislation proposed that the state buy and hold bitcoin as a strategic asset, store it in cold storage for at least five years, allow resident donations, and enable state agencies to accept and convert cryptocurrencies to bitcoin.\u00a0<\/p>\n

It also mandated transparency through yearly audits and reports. Modeled after a federal proposal by President Donald Trump and Senator Lummis, the bill mirrored the growing global interest of bitcoin.\u00a0<\/p>\n

Earlier this month, New Hampshire became<\/a> the first government worldwide to approve a $100 million Bitcoin-backed municipal bond. The state\u2019s Business Finance Authority (BFA) authorized the conduit bond, allowing private companies to borrow against over-collateralized Bitcoin held in custody, with repayment risk resting solely on the collateral.\u00a0<\/p>\n

Borrowers must post roughly 160% of the bond\u2019s value in Bitcoin, and automated liquidation protects bondholders if values drop. Fees and any BTC appreciation will fund the state\u2019s Bitcoin Economic Development Fund.\u00a0<\/p>\n

This move follows<\/a> New Hampshire and Arizona\u2019s earlier creation of a Strategic Bitcoin Reserve.\u00a0<\/p>\n

This post Texas Becomes First U.S. State to Buy $10M of BlackRock\u2019s Spot Bitcoin ETF<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Texas Becomes First U.S. State to Buy $10M of BlackRock\u2019s Spot Bitcoin ETF On November 20, Texas became the first U.S. state to buy Bitcoin for its Strategic Reserve, acquiring $10 million at roughly $87,000 per BTC, according to Lee Bratcher, President of the Texas Blockchain Council. The purchase was made through BlackRock\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":115671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-115670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/115670"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=115670"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/115670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/115671"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=115670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=115670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=115670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}