- State legislation allocates $10 million for accumulating Bitcoin.
- Texas is preparing an official tender to select a custodian for the reserve.
- New Hampshire has authorized a Bitcoin reserve and approved a $100 million Bitcoin-backed bond.
Texas is moving forward with one of the most ambitious state-level crypto strategies in the country, setting up the framework for a state Bitcoin reserve.
The state made its first formal move by acquiring $5 million worth of shares in BlackRock’s iShares Bitcoin Trust.
This purchase is part of a broader plan initiated by legislation passed earlier this year that set aside $10 million for future Bitcoin accumulation.
Early activity positions Texas as the first U.S. state to create a dedicated cryptocurrency reserve, giving it a leadership role in growing competition among states exploring digital asset policy.
Texas lays the groundwork for a Bitcoin reserve
State officials are gathering input from the cryptocurrency industry to define how the reserve will operate.
The review began after Texas issued a request for information in September, asking for recommendations on best practices for custody, security and governance.
Industry groups submitted detailed materials covering custody models, investment structures, governance frameworks and security systems.
This process is part of broader efforts to ensure the reserve will be managed with clear procedures as the program moves from planning to execution.
Officials are expected to issue an official request for proposals following this information-gathering phase.
The tender will be used to select a custodian and finalize the program’s operational rules.
The recent $5 million allocation is a temporary step rather than direct ownership of Bitcoin while the state completes the selection process, according to reporting.
States explore public crypto strategies
Other states have accessed Bitcoin through different channels.
Michigan and Wisconsin have gained exposure to crypto markets via public employee pension funds.
Wisconsin, for example, sold roughly $350 million worth of cryptocurrency holdings in May, according to public records.
These moves reflect growing institutional interest at the state level, even where governments have not yet created dedicated reserves.
Several states are actively considering the idea of holding Bitcoin for strategic purposes.
New Hampshire has authorized the creation of a state Bitcoin reserve, though it has not yet made any direct purchases.
Last week, New Hampshire’s Business Finance Authority approved a $100 million Bitcoin bond designed to support a cryptocurrency-backed economic development fund.
That structure relies on private-sector activity rather than direct state accumulation of Bitcoin.
Early developments continue across the country
Arizona is also taking steps toward a government-level reserve.
Its legislation directs unclaimed cryptocurrency assets held by the state into a special reserve.
The plan creates an initial legal framework that could support future accumulation, although a full reserve structure is still under development.
These early initiatives reflect increasing interest from states in integrating digital assets into long-term financial planning.
State-level activity is unfolding alongside federal discussions.
The President has publicly expressed support for a national investment strategy in Bitcoin.
The administration issued an executive order directing officials to begin planning a framework at the federal level.
Government teams working on the project are now awaiting congressional approval before moving to the next stage.
Texas sets the pace for state-level crypto adoption
Texas remains at the forefront of state initiatives thanks to legislative backing and its first confirmed investment.
The move signals a shift from exploratory interest to practical implementation, with a structured plan to select custodians and define reserve operations.
Upcoming steps will determine how the state transitions from temporary allocations to direct Bitcoin ownership once contracts and governance systems are in place.