PANews reported on November 26 that a post by the Texas Blockchain Council indicates that the state has made its first fund allocation for the Texas Strategic Bitcoin Reserve, purchasing approximately $5 million worth of the BlackRock Bitcoin Spot ETF (IBIT) last week. This transaction appears to be the first use of authorized funds under the SB 21 bill issued by Greg Abbott in June. The bill established a state-level Bitcoin reserve operated by the Texas Treasury Safekeeping Trust Company. Lee Bratcher, chairman of the Texas Blockchain Council, revealed on Twitter that this purchase took place on November 20, marking both the first fund allocation for the reserve and the first case of a state government in the U.S. purchasing Bitcoin. However, state government officials have not yet released any documents or statements to confirm this transaction.
According to the latest 13F filing submitted by the Texas Treasury Trust Company, the firm holds approximately $667 million in SPY (S&P 500 ETF) and $34 million in Janus Henderson funds. If, as Lee Bratcher stated, it purchases $5 million worth of IBIT (as part of a $10 million Bitcoin allocation), it will become the third-largest holding in the portfolio.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC falls below 75000 USDT
Gate News bot message, Gate market data shows that BTC has fallen below 75000 USDT, with the current price at 74996.3 USDT.
CryptoRadar1h ago
Iran Uses Bitcoin for Hormuz Strait Oil Transit Fees, But Stablecoins Handle Majority of Actual Fund Transfers
Iran is utilizing Bitcoin for oil transit fee settlements via the Strait of Hormuz, but stablecoins dominate actual fund transfers in these transactions.
GateNews2h ago
Galaxy Research Chief: U.S. OFAC Sanctions List Involves 518 Bitcoin Addresses
The U.S. Treasury's OFAC sanctions list includes 518 Bitcoin addresses that have significantly engaged in crypto transactions, currently holding about 9,306 BTC valued at $707 million, highlighting the relationship between cryptocurrency and financial regulation.
GateNews7h ago
Bitcoin Swings on Hormuz Strait Reports, Triggering $762M in Liquidations
Bitcoin rose to $78,000 but dropped to $76,091 following reports of tensions in the Strait of Hormuz. Iran's actions triggered $762 million in liquidations among traders, with implications for crypto markets as Iran accepts payments in bitcoin and other currencies to navigate sanctions.
GateNews9h ago
Former UK PM Liz Truss Publicly Endorses Bitcoin as Tool Against Currency Debasement
Former UK Prime Minister Liz Truss criticized Britain's economic trajectory, citing high taxes and regulations. She advocates for Bitcoin to combat currency debasement and is organizing a conference to promote a movement for sovereignty and freedom.
GateNews20h ago
