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Texas Makes History with Nation’s First State-Backed Bitcoin Reserve
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Jun 24, 2025
Texas has become the first US state to establish a publicly funded Bitcoin reserve following Governor Greg Abbott’s signing of Senate Bill 21 (SB 21) into law on 20 June.
The Bitcoin reserve is set up outside the state treasury system but remains under the authority of the Texas Comptroller of Public Accounts. An advisory committee of three crypto investment professionals will guide the reserve’s operations.
Only cryptocurrencies with an average market capitalisation of at least US$500 billion (AU$ 778 billion) over a 12-month period may be included in the fund. This effectively limits it to Bitcoin, which currently has a market cap of US$2.07 trillion (AU$ 3.22 trillion), and potentially Ethereum in the future.
The law allows the reserve to receive not only direct purchases, but also forks, airdrops, crypto donations and investment gains. A public report on the reserve’s performance and holdings will be published every two years.
A Growing National Trend
Texas is now the third US state to create a Bitcoin reserve, following Arizona and New Hampshire. However, Texas is the first to commit public funds and build a separate structure for Bitcoin holdings.
This legislation follows US President Donald Trump’s signing of an executive order in March, creating a federal strategic Bitcoin reserve, and encouraging states to adopt similar strategies. Other states, including Michigan, Ohio, and Massachusetts, are considering similar legislation, while proposals in states like Florida, Oklahoma, and Georgia have stalled or been repealed.
Source >> Texas Makes History with Nation’s First State-Backed Bitcoin Reserve
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