Crypto
Texas Holds Steady on BlackRock Bitcoin Trust Amid Market Decline
The Texas Treasury Safekeeping Trust Company (TTSTC) held its position in BlackRock's iShares Bitcoin Trust (IBIT) unchanged during the second quarter, despite a $3.4 million decline in the stake's market value.
The TTSTC reported owning 197,844 shares of IBIT on both its March 31 and June 30 filings, showing no sales during a period when Bitcoin's price fell 13.25% to $59,101.49 from $68,129.64.
Texas initially allocated $10 million to the Strategic Bitcoin Reserve and used BlackRock's ETF as an interim investment while preparing for direct Bitcoin custody.