Техас становится первым штатом с инвестициями в биткоин-ETF на сумму $5 млн Translation: Texas Becomes the First State with $5 Million Investment in Bitcoin ETF

The state of Texas (USA) has made its initial allocation in a strategic Bitcoin reserve. Authorities purchased shares of the spot exchange-traded fund IBIT from BlackRock, amounting to $5 million, as reported by TBC President Lee Bratcher.

According to him, the transaction took place on November 20. Bratcher referred to this as the first cryptocurrency investment by a U.S. state. However, officials from the treasury have yet to confirm the transaction.

The utilization of these funds was made possible by the law SB 21, which was signed by Governor Greg Abbott in June. This legislation established a state Bitcoin reserve under the management of the Texas Treasury Safekeeping Trust Company.

According to the latest report filed under form 13F, the trust company manages assets worth $667 million in SPY and $34 million in the Janus Henderson fund.

If Bratcher’s information is accurate, the $5 million purchase of IBIT will become the third asset in this portfolio. The total planned allocation to Bitcoin amounts to $10 million.

Bloomberg senior exchange analyst Eric Balchunas pointed out the uniqueness of the situation.

«I’m sure this is the only ETF owned by all three [the state, the sovereign fund, and the university]. Impressive results for a fund that is not even two years old,» the expert stated.

As a reminder, in September, global managing partner of OKX, Haider Rafique, claimed that establishing a national Bitcoin reserve in the U.S. could negatively impact both the cryptocurrency market and the dollar.