Welcome to This Week in Crypto, where we break down the most talked-about stories shaping the world of digital assets. From global policy moves to headline-making Bitcoin buys, here’s what’s been making waves across the crypto space.

Here’s a quick look at what’s new:

  • Texas creates public Bitcoin fund: A new law makes Texas the first U.S. state to commit public funds to a Bitcoin reserve.
  • Canada approves spot XRP ETF: The first of its kind in North America, the fund launches as Ripple and the SEC push to pause their legal battle.
  • Metaplanet buys big: The Japan-based firm added 1,111 BTC—five times more than Strategy’s latest purchase.

Let’s dive into each story and see what it means for crypto this week!

Texas Becomes First U.S. State to Create a Public Bitcoin Fund

Texas has passed a new law that will make Bitcoin part of the state’s official reserves. Governor Greg Abbott signed Senate Bill 21, creating the Texas Strategic Bitcoin Reserve to hold Bitcoin as a long-term asset. The move makes Texas the first state to commit public funds to Bitcoin through a dedicated structure.

  • The reserve will be managed by the Texas Comptroller and guided by a crypto advisory team.
  • Only digital assets with a market cap over $500 billion—currently only Bitcoin—can be included.
  • The fund can grow through direct purchases, investment gains, forks, airdrops, and donations.

Texas joins Arizona and New Hampshire in passing Bitcoin reserve laws, but it’s the only state so far to use public funds and keep the fund separate from other state accounts. A public report on the fund’s performance will be released every two years.

Canada Approves First Spot XRP ETF as Ripple, SEC Push for Appeal Delay

Canada is launching the first spot XRP exchange-traded fund (ETF) in North America. The rollout comes as Ripple and the U.S. SEC jointly request a delay in their ongoing court case. While the legal process continues in the U.S., Canadian investors will soon have regulated access to XRP.

  • The Purpose XRP ETF will begin trading June 18 on the Toronto Stock Exchange under the ticker XRPP.
  • It will be offered in Canadian and U.S. dollar versions and can be held in registered accounts like TFSAs and RRSPs.
  • In the U.S., the SEC is expected to provide an update on the appeal process in August.

U.S. firms still await SEC decisions on pending XRP ETF proposals. Canada’s approval may serve as a point of comparison as regulators in other countries evaluate similar filings.

Metaplanet Buys $118M in Bitcoin, Outpaces Strategy’s Latest Acquisition

Japanese tech firm Metaplanet has made a major move by purchasing 1,111 Bitcoin, one of the largest corporate buys this year. The $118 million investment is about five times larger than Strategy’s recent 245 BTC addition. Both companies continue to build their Bitcoin reserves, though with different pacing and goals.

  • Metaplanet now holds 11,111 BTC, with a long-term goal of reaching 100,000 BTC by 2026.
  • Strategy, the largest corporate holder of Bitcoin, now owns 592,345 BTC in total.
  • Strategy funded its latest buy using proceeds from stock offerings and says it has more capacity for future purchases.

These filings show that interest in holding Bitcoin at the corporate level remains active. Each company is managing its Bitcoin reserves in different ways, based on publicly shared filings and financing strategies.

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