com. Texas has made its first $10 million Bitcoin purchase through BlackRock’s IBIT ETF, marking the inaugural state-level investment in BTC as part of a strategic reserve plan aimed at long-term financial stability and eventual self-custody. S. states in public adoption. State officials outline transition from ETF to full self-custody once infrastructure is ready. Reserve fund could expand to include Ethereum if it sustains a market cap over $500 billion for two years, per legislative guidelines. Explore implications for institutional crypto adoption. Stay informed on digital asset strategies-read more now. What is Texas’s First Bitcoin Investment Through BlackRock’s IBIT? Texas’s first Bitcoin investment involves a $10 million purchase executed through BlackRock’s spot Bitcoin ETF, IBIT, on November 20 at an estimated price of $87,000 per BTC. Texas Bitcoin investment represents a pioneering move by a U. S. state to integrate digital assets into public reserves for long-term stability. This step aligns with state legislation recognizing Bitcoin as a strategic asset, using the ETF as an interim compliant vehicle while self-custody systems are developed. How Does Texas Plan to Transition to Self-Custody for Its Bitcoin Holdings? The Texas Treasury, under Comptroller Kelly Hancock, selected BlackRock’s IBIT for this initial allocation to ensure regulatory compliance during the setup phase. Officials have confirmed intentions to shift to direct self-custody once a robust framework is in place, minimizing third-party risks associated with ETF structures. Lee Bratcher of the Texas Blockchain Council emphasized that this purchase followed extensive market monitoring, highlighting the state’s commitment to secure, sovereign control over its digital reserves. Supporting data from public filings shows the investment draws from a dedicated.