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Texas cryptocurrency reserves take a key step, having allocated 5 million dollars to BlackRock Bitcoin Spot ETF.
On November 26, according to Coindesk, Texas has taken a key step in building state-level encryption reserves. According to officials, the state has invested $5 million in BlackRock's Bitcoin ETF, although Texas's strategic Bitcoin reserve plan is still in preparation. The state has recently solicited industry opinions on establishing a compliance scheme for Bitcoin reserves and allocated $10 million through legislation earlier this year. After completing the final few procedural steps, Texas is expected to become the first state government in the United States to seriously launch long-term encryption asset investments. A spokesperson for the state auditor's office confirmed on Tuesday that as a transitional measure before establishing an accomplice contract, $5 million has been allocated to BlackRock iShares Bitcoin Trust.