Granite State Seeks Bitcoin Bond Purchaser to Inaugurate Initial Public Project
New Hampshire Anticipates Bitcoin Bond Purchaser to Initiate Inaugural State Venture
The New Hampshire Business Finance Authority initiated the preliminary steps to manage a prospective $100 million bitcoin bond from the private sector.
By Jesse Hamilton|Edited by Nikhilesh DeUpdated Nov 19, 2025, 10:03 p.m. Published Nov 19, 2025, 7:26 p.m.
What to know:
- The New Hampshire Business Finance Authority, an organization established to stimulate the state’s economy, made the initial major action to bring forth a $100 million bitcoin bond.
- Even though the bond is started by the state institution, a private-sector partner would finance and oversee it, though the ultimate agreement is yet to be revealed.
New Hampshire made a move this week to encourage the state’s inaugural offering of a $100 million bitcoin bond, which would be managed by a state body but financed by a private-sector company, according to individuals connected to the initiative.
The New Hampshire Business Finance Authority approved “$100,000,000 bonds for a venture to obtain and secure digital currency,” according to the description on its schedule. The NHBFA does not directly administer state-backed bonds, but motivates private-sector organizations to handle them. Should an agreement be reached for this bond, the New Hampshire Executive Council will examine the arrangement and vote on whether to grant it ultimate approval.
Once it gets the nod, the venture will become active — the first of its kind in the country.
“We’re pleased to assist in creating fresh instruments that permit firms in the digital-asset space to obtain capital securely and efficiently — all while guaranteeing no taxpayer resources or state assurances are at jeopardy,” stated James Key-Wallace, executive director of the agency that sanctioned the issuance of this conduit bond.
The NHBFA is an independently funded, state-established body intended to promote New Hampshire’s economic progress. Earnings from its bond ventures revert to the entity to aid in reinforcing its operations, and Key-Wallace informed CoinDesk that the crypto assets returning to the state in fees will be utilized to institute the first-ever crypto-backed economic development fund.
The investment consultant aiding in assembling the agreement is Wave Digital Assets, alongside Rosemawr Management, and BitGo is responsible for the safekeeping of the collateral.
State Representative Keith Ammon, a veteran supporter of crypto policy in New Hampshire, stated this initial bitcoin bond endeavor is designed to be a model for more to come.
“Bitcoin can partially protect our state’s spiraling inflation,” he mentioned in a discussion with CoinDesk. “This is comparable to training wheels to reach that goal, shielding our state’s finances from future depreciation of the dollar.”
He indicated the two-year bond would hinge on an increasing value for bitcoin.
In the last year, BTC has declined by approximately 6%, after steadily rising for several months prior to its steep decline commencing last month.
New Hampshire has been at the forefront of state administrations pursuing crypto policies. Earlier this year, the New England state became the first to form a crypto reserve, progressing considerably faster than the federal government, which is still in the planning stages.
UPDATE (November 19, 2025, 22:04 UTC): Adds comment from New Hampshire Business Finance Authority.
