4月1日，新罕布夏州商業金融管理局計畫發行看似首檔獲得評級的比特幣擔保債券，穆迪給予其初步Ba2評級，象徵加密資產與公共金融嶄新交會。此類債券以託管於BitGo的比特幣作為擔保資產，採有限追索權架構，不會使新罕布夏州公共資金面臨風險，顯示該州主要作為通道發行人；同時評級機構持續優化加密資產擔保債務的評估方法

On April 1, the New Hampshire Department of Business, Economic, and Treasury Affairs is set to issue what appears to be the first rated Bitcoin-backed bonds. Moody’s has assigned them a preliminary Ba2 rating, marking a new intersection between crypto assets and public finance.

These bonds are backed by Bitcoin held in custody at BitGo. Structured as limited-recourse securities, they do not expose New Hampshire’s public funds to risk, indicating the state primarily acts as a conduit issuer. Meanwhile, rating agencies continue refining their methodologies for evaluating crypto asset-backed debt.