Texas is advancing a state-level crypto reserve strategy, signaling a serious pivot toward long-term cryptocurrency asset investments. Officials have allocated $5 million to acquire BlackRock‘s iShares Bitcoin Trust as a transitional measure before finalizing a custody contract.

Earlier this year, lawmakers allocated $10 million and invited industry input on a Bitcoin reserve compliance program. With these steps, Texas aims to become the first state to meaningfully implement long-horizon cryptocurrency exposure at the government level.

A spokesperson from the State Comptroller’s Office confirmed the $5 million allocation to BlackRock‘s iShares Bitcoin Trust as a transitional step prior to establishing a custody arrangement, underscoring governance and risk controls.

Industry watchers emphasize that, as policy development continues, Texas’ process highlights fiduciary safeguards, transparent reporting, and regulatory alignment to support credible asset management.