CoinDesk Podcast Network Texas Buys $5M of BlackRock's IBIT. Which State Is Next? | CoinDesk Daily
Nov 26, 2025
Texas is making waves by purchasing $5 million of BlackRock's bitcoin ETF, signaling a potential shift towards state-level crypto reserves. Meanwhile, ARK Invest is aggressively adding to its crypto portfolio, snagging millions in major companies. The discussion also touches on challenges in predicting market regulation and the complexities of compliance amid evolving state laws. With Bitcoin nearing $87,800, the market is buzzing with speculation about federal crypto investments and what states might follow Texas's lead.
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Texas Starts A State Bitcoin Reserve
- Texas purchased $5 million of BlackRock's iShares Bitcoin Trust as the opening move for a state crypto reserve.
- The buy secures a position while the state finalizes custodial infrastructure for its Strategic Bitcoin Reserve.
Bought The Dip At $87K
- Lee Bratcher of the Texas Blockchain Council said the state "bought the dip" at about $87,000 per bitcoin.
- ARK Invest simultaneously added millions in crypto-linked stocks as part of its aggressive accumulation strategy.
ARK's Aggressive Accumulation
- ARK Invest bought roughly $7.6 million in Circle and $1.5 million in Bullish, plus nearly $4 million in Coinbase stock.
- The purchases continue a buying spree that began on November 20th as ARK treats the market softness as a long-term entry point.