Texas has formally opened a strategic Bitcoin reserve, becoming the first U.S. state to allocate public funds toward BTC. On November 20, 2025, the state acquired Bitcoin exposure through the IBIT spot Bitcoin ETF, using an initial tranche of approximately $5 million as part of a planned $10 million allocation. Under legislation signed earlier this year, the State Comptroller is authorized to hold digital assets as long-term reserve instruments. According to officials, the ETF purchase serves as an interim measure. Texas intends to transition to direct self-custody of Bitcoin once its dedicated custodial ... (full story)