FIRST TIME: 1 U.S. STATE ADOPTS BITCOIN INTO BALANCE SHEET
BlackRock Spot-ETF IBIT has become the bridge for a historic advancement: on November 20, 2025, Texas used public funds to purchase $10 million (starting with $5 million) IBIT — becoming the first state in the U.S. to officially incorporate Bitcoin into its balance sheet.
Texas is building a strategic reserve fund (Texas Strategic Bitcoin Reserve), approved in 2025 under law SB-21.
Purchasing through the ETF helps the state comply with regulations before finalizing infrastructure for self-custody of BTC.
Although the capital is still small – $10M compared to the state's total budget – this move carries significant symbolic weight: the state treasury now accepts crypto as a legal asset, equivalent to bonds or gold.
If a few more states follow Texas's lead, Bitcoin could soon transition from a “speculative asset – technology” to a “mainstream financial asset” in public portfolios.
