Texas Bets the Farm on Crypto: Ether Could Join the Reserve

by

In the year when the dust of the legislature clings to the chairs and the air tastes of old ledger ink, Texas’ lawmakers forged a law to summon a strategic Bitcoin reserve, a cold chest for the state’s future coins. They speak of opening doors to other currencies as if a breeze could be taxed, and now the rumor travels: Ether might be next, a bitter smile in the arithmetic of power. 😒💸

Senator Charles Schwertner, a man with a stubborn gaze and a microphone, spoke to CryptoMoon on Thursday about the birth of this Bitcoin reserve, signed into law by Governor Greg Abbott in June. The document allowed Texas to guard other cryptocurrencies in a “special fund outside the state treasury,” though Bitcoin alone wore the badge when the ink dried. 🤨

“I’m watching with a hunger to see how fast the reserve is set up and how it yields,” he said. “If Ethereum keeps its market cap for 24 months, it seems reasonable to suggest that Ethereum could be added to the cryptocurrency reserve.” What a dramatic plot twist, eh? 😂

Under the law to establish and administer a Texas Strategic Bitcoin Reserve, for any cryptocurrency to qualify as a reserve asset, it must “have an average market capitalization of at least $500 billion over the most recent 24-month period.” Bitcoin, with a market cap well over $2 trillion, stamps its passport with little ceremony. 💼🧾

By comparison, Ether has only kept above $500 billion twice: for about a month in 2021 and off and on from August to October this year. On the latest Friday, ETH and its market cap sagged, the latter around $494 billion when the clock paused. The math has a way of sounding like a march, and then slipping into a sigh. 🤷‍♂️

How does Texas’ law differ from those passed in other states?

While many states shrugged at similar schemes, Arizona and New Hampshire breathed life into legislation in 2025. Arizona’s fund includes crypto seized through crime, while New Hampshire’s law allows the treasury to invest in crypto with a market cap of more than $500 billion-so many numbers, so many promises. 😅

“We’re the only state that actually put sovereign money, taxpayer money, toward the reserve,” said Schwertner, summing up the romance of bravado with a groan: “We took the full punch-establishing a reserve as well as the money behind it.”

According to the senator, the state comptroller is weighing the implementation, including custodians for the reserve’s holdings. Under the law, any custodian must be a “state or federally chartered financial institution” or another entity regulated in Texas. The machinery of authority creaks, yet it prepares to lift the coins from cold vaults to daylight. 🧰

Texas’ law, and others under consideration, echo the federal whispers that began during the Trump era, with talk of a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile” in March. The order laid out the grim policy of using seized crypto to fund the reserve, though officials later noted there were “budget-neutral ways” to acquire BTC. The theater goes on, the players change costumes, and the crowd remains largely unsettled. 🎭

Read More

2025-10-11 00:21