Texas Invests $10 Million in Bitcoin Through BlackRock’s ETF

Texas has made a strategic move in the cryptocurrency space, investing $10 million in BlackRock’s spot Bitcoin ETF (IBIT). The state is building its own Bitcoin reserve, with half of this initial investment going to a temporary fund managed by Blackrock. It will later transition to self-managed holdings once a secure custody system is established. This strategic move aims to establish a long-term Bitcoin strategy as seen in the recent approval of a $500 billion+ market cap requirement for Bitcoin inclusion in the state’s financial pool.