Texas acquired $5M of BlackRock’s iShares Bitcoin Trust, marking a pioneering step toward creating the first state-level bitcoin reserve in the U.S.
Summary
- Texas has purchased $5 million of BlackRock’s iShares Bitcoin Trust as part of a $10 million legislated bitcoin reserve initiative.
- The state is finalizing guidelines and custodian selection for direct bitcoin holdings; the current move is a temporary allocation.
- Other states like Michigan, Wisconsin, New Hampshire, and Arizona are also exploring or implementing government-level crypto reserves.
Texas has acquired $5 million in shares of BlackRock’s iShares Bitcoin Trust, marking an initial step toward establishing a state-level bitcoin reserve, according to state officials.
The purchase follows …