Derived from Crypto.News, Texas has allocated $5 million to BlackRock’s iShares Bitcoin Trust as part of a $10 million legislated initiative to establish the first state-level Bitcoin reserve in the U.S. The state is currently finalizing custodian selection and operational guidelines, with the current allocation serving as a temporary measure before direct Bitcoin ownership. Other states, including Michigan, Wisconsin, New Hampshire, and Arizona, are also exploring or implementing government-level crypto reserves.
Texas Allocates $5M to BlackRock’s Bitcoin Trust for State-Level Reserve
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