New Hampshire moved this week to foster the state’s first issuance of a $100 million bitcoin bond, which might be directed by a state company however backed by a private-sector agency, based on these concerned with the hassle.
The New Hampshire Enterprise Finance Authority approved “$100,000,000 bonds for a venture to amass and maintain digital foreign money,” based on the outline on its agenda. The NHBFA would not direct state-backed bonds, however encourages private-sector entities to manage them. If a deal is struck for this bond, the New Hampshire Govt Council will overview the association and vote on whether or not to offer it a remaining approval.
As soon as accepted, the venture will go dwell — the primary of its type within the nation.
“We’re proud to assist develop new instruments that enable corporations within the digital-asset ecosystem to entry capital safely and successfully — whereas guaranteeing no taxpayer funds or state ensures are in danger,” mentioned James Key-Wallace, govt director of the company that accepted the issuance of this conduit bond.
The NHBFA is a self-funded, state-created group meant to foster New Hampshire’s financial improvement. Proceeds from its bond tasks return to the entity to assist bolster its operations, and Key-Wallace instructed CoinDesk that the crypto belongings returning to the state in charges will likely be used to create the first-of-its-kind crypto-backed financial improvement fund.
The funding adviser serving to put the deal collectively is Wave Digital Belongings, together with Rosemawr Administration, and custody of the collateral is within the palms of BitGo.
State Consultant Keith Ammon, a longtime advocate for crypto coverage in New Hampshire, mentioned this primary bitcoin bond effort is supposed to be a template for extra to return.
“Bitcoin can partially insulate our state’s runaway inflation,” he mentioned in an interview with CoinDesk. “That is like coaching wheels to get to that time, defending our state’s funds from future devaluation of the greenback.”
He mentioned the two-year bond could be reliant on a rising worth for bitcoin.
On this previous yr, BTC is down about 6%, after having climbed steadily for months earlier than its sharp decline starting final month.
New Hampshire has been within the forefront of state governments pursuing crypto insurance policies. The New England state was the first to determine a crypto reserve earlier this yr, transferring rather more rapidly than the federal authorities, which remains to be within the planning levels.
UPDATE (November 19, 2025, 22:04 UTC): Provides remark from New Hampshire Enterprise Finance Authority.
