{"id":408122,"date":"2026-08-16T12:54:11","date_gmt":"2026-08-16T12:54:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/408122\/"},"modified":"2026-08-16T12:54:11","modified_gmt":"2026-08-16T12:54:11","slug":"texas-refuses-to-sell-as-its-10-million-bitcoin-bet-sinks-to-6-6-million","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/408122\/","title":{"rendered":"Texas refuses to sell as its $10 million Bitcoin bet sinks to $6.6 million"},"content":{"rendered":"

Texas kept its 197,844-share position in BlackRock’s iShares Bitcoin Trust (IBIT)<\/a> unchanged during the second quarter even as the stake’s market value fell to about $6.62 million.<\/p>\n

The Texas Treasury Safekeeping Trust Company reported the same number of IBIT shares in its June 30 Form 13F<\/a> as it did in an amended March 31 filing<\/a>, showing no shares were sold during a quarter in which Bitcoin continued its 2026 decline.<\/p>\n

TTSTC is the state-created investment manager that holds the Texas Strategic Bitcoin Reserve<\/a> and oversees about $165 billion across state funds, endowments and other portfolios.<\/p>\n

Texas previously allocated $10 million to the Strategic Bitcoin Reserve and used<\/a> BlackRock’s ETF as an interim vehicle while preparing to move toward direct Bitcoin custody.<\/p>\n

\"Why\"Why Related ReadingWhy Texas is buying Bitcoin from BlackRock before building a real reserve<\/p>\n

Operational challenges prompt Texas’s strategic use of an ETF as a temporary measure while building sovereign-grade custody.<\/p>\n

Nov 26, 2025 \u00b7 Oluwapelumi Adejumo<\/p>\n

<\/a><\/p>\n

The latest filing shows Texas maintained its ETF exposure rather than reducing it as Bitcoin prices fell.<\/a><\/p>\n

BlackRock reported IBIT’s net asset value at $33.48 per share on June 30, down from $38.62 at the end of March. That puts the 197,844 shares disclosed by TTSTC at about $6.62 million at quarter-end.<\/p>\n

IBIT’s NAV fell 13.31% during the quarter as Bitcoin declined 13.25% to $59,101.49 from $68,129.64, BlackRock said<\/a>.<\/p>\n

TTSTC’s two regulatory filings, however, report both the share count and the stated value of the IBIT position as unchanged.<\/p>\n

The amended March filing lists 197,844 shares with a value of 7,602. The June filing repeats exactly the same figures.<\/p>\n

\"Infographic\"Infographic<\/p>\n

The $7.602 million figure closely reflected the position’s value around the end of the first quarter, when IBIT traded near $38 per share. By June 30, the same number of shares was worth roughly $980,000 less based on BlackRock’s reported NAV.<\/p>\n

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That leaves TTSTC’s unchanged value entry at odds with the market value of the position at the second-quarter reporting date.<\/p>\n

\"Brevan\"Brevan Related ReadingBrevan Howard reports $2.3B Bitcoin exposure via BlackRock’s IBIT ETF, becoming second-largest holder<\/p>\n

According to a filing with the US Securities and Exchange Commission (SEC) of its latest 13F form, the hedge fund now holds approximately 37.5 million IBIT shares.<\/p>\n

Aug 15, 2025 \u00b7 Gino Matos<\/p>\n

<\/a><\/p>\n

The filings nevertheless make the state’s investment decision clear. Texas entered the second quarter with 197,844 IBIT shares and finished it with the same amount despite the decline in Bitcoin.<\/p>\n

The position also remained well below the $10 million originally allocated to the Strategic Bitcoin Reserve.<\/a><\/p>\n

At the June 30 valuation, the 197,844 shares were worth about $3.38 million less than that original appropriation, although the comparison assumes the full $10 million reserve allocation corresponds to the IBIT shares disclosed by TTSTC.<\/p>\n

Texas has separately said the reserve used its appropriation to acquire IBIT as an interim investment before establishing infrastructure for direct Bitcoin custody<\/a>.<\/p>\n

\"Texas\"Texas Related ReadingTexas to buy Bitcoin for state reserves long before Trump’s Bitcoin reserve delivers<\/p>\n

Governor Abbott’s new bill positions Texas as a frontrunner in crypto adoption while federal efforts are poor.<\/p>\n

Jun 23, 2025 \u00b7 Liam ‘Akiba’ Wright<\/p>\n

<\/a><\/p>\n

The June filing therefore shows Texas absorbed the second-quarter decline without reducing its disclosed BlackRock Bitcoin ETF position, leaving the state holding the same 197,844 shares as their market value fell to about $6.62 million.<\/p>\n","protected":false},"excerpt":{"rendered":"Texas kept its 197,844-share position in BlackRock’s iShares Bitcoin Trust (IBIT) unchanged during the second quarter even as…\n","protected":false},"author":2,"featured_media":408123,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[23142,24238,142706,11139,27,29,28],"class_list":["post-408122","post","type-post","status-publish","format-standard","has-post-thumbnail","category-texas","tag-bitcoin","tag-blackrock","tag-etf","tag-regulation","tag-texas","tag-texas-headlines","tag-texas-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/408122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=408122"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/408122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/408123"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=408122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=408122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=408122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}