PANews reported on November 26th that, according to The Block, a post from the Texas Blockchain Commission indicates that the state has made its first allocation to the Texas Strategic Bitcoin Reserve, purchasing approximately $5 million worth of BlackRock's Bitcoin Spot ETF (IBIT) last week. This transaction appears to be the first use of authorized funds under SB 21, enacted by Greg Abbott in June. This act established a state-level Bitcoin reserve operated by the Texas Treasury Trust Company. Lee Bratcher, chairman of the Texas Blockchain Commission, revealed on Twitter that the purchase occurred on November 20th, marking both the reserve's first allocation and the first instance of a state government purchasing Bitcoin in the United States. However, state officials have not yet released any documents or statements to confirm the transaction.

According to the latest 13F filing by the Texas Fiscal Trust, the company holds approximately $667 million in SPY (S&P 500 ETF) and $34 million in the Janus Henderson Fund. If, as Lee Bratcher stated, the purchase of $5 million worth of IBIT (as part of a $10 million Bitcoin allocation) would become the third largest holding in this portfolio.