Texas Invests $5 Million in Bitcoin ETF for State Reserve Plan

Texas is taking a step towards establishing its own Bitcoin reserve with a $5 million investment into the BlackRock iShares Bitcoin Trust (IBIT). This move comes as the state prepares to transition to full self-custody of Bitcoin, which will be part of a larger strategic plan. The initiative follows Texas’s creation of the Strategic Bitcoin Reserve earlier this year, designed to avoid using taxpayer funds for direct Bitcoin ownership.