In accordance with PANews, Texas has become the first U.S. state to allocate funds to a state-level strategic Bitcoin reserve, purchasing $5 million worth of BlackRock's IBIT ETF. The move, announced by Texas Blockchain Association Chair Lee Bratcher, marks the first official state government Bitcoin configuration in the U.S. and follows a legislative process that began in early 2025. The purchase was made on November 20 and is part of a broader $10 million Bitcoin allocation plan. Texas aims to eventually hold Bitcoin directly, bypassing intermediaries like ETFs. Currently, only three U.S. states—Arizona, New Hampshire, and Texas—have passed state-level Bitcoin reserve legislation, with others still in the proposal or review stages.
Texas Allocates $5M to Buy BlackRock's IBIT ETF, Launches State-Level Bitcoin Reserve
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