Texas House Passes Strategic Bitcoin Reserve Bill.
The Texas House of Representatives has passed the third reading of SB 21, a bill that seeks to establish a strategic Bitcoin reserve in the state. The bill passed in a 101-42 vote and will now go to Texas Governor Greg Abbott to either sign into law or veto.
The legislation allows the comptroller to invest in any cryptocurrency with a market cap above $500 billion over the previous 12-month period. Currently, the only cryptocurrency fitting the requirement is Bitcoin.
If Abbott signs SB 21 into law, Texas will be the second US state to allow for the creation of a cryptocurrency reserve. New Hampshire became the first to do so on May 6 after Governor Kelly Ayotte signed House Bill 302 into law.
THORChain Set to Integrate XRP; Scanning Goes Live Next Week.
THORChain has announced that XRP integration is almost ready, exciting many in the crypto community. According to an update shared on X (formerly Twitter), XRP scanning is expected to go live next week once network churning resumes.
The THORChain team confirmed that vault creation and pool bootstrapping will likely follow in the next churn. This means XRP trading and liquidity will soon be fully functional on the platform.
In a technical update, THORChain revealed that the XRP daemon is now enabled by default in the node launcher. Developers are advised to “pull” and “make install” to activate it.
Strike and Tether Aim to Buy 5% of Bitcoin.
Jack Mallers, founder of the financial technology company Strike, revealed a major Bitcoin (BTC) acquisition plan. In a recent interview, Mallers noted that his company, in collaboration with Tether, may be positioning itself to hold a major share of the Bitcoin network, potentially up to 5%.
Though Mallers did not confirm a specific amount of Bitcoin currently held or planned for acquisition, the implication of a 5% stake. This is roughly equivalent to around one million BTC at present total supply, which suggests an ambitious strategy.
Volatility Shares to Launch First 1x XRP Futures ETF in US.
Volatility Shares is introducing the inaugural 1x XRP futures ETF in the US on May 22, 2025. The upcoming ETF will be called “XRPI” and will trade with the ticker symbol “XRPI.”
Bloomberg ETF analyst Eric Balchunas confirmed the launch on social media. “The existing 2x XRP ETF has $120 million in assets under management and trades around $35 million daily,” Balchunas noted on X.
The new 1x product is designed for investors who want to follow XRP futures with lower risk, unlike leveraged ETFs which tend to be unpredictable.
The XRPI ETF will also be attractive to retail and institutional investors who want a lower-risk way to participate in XRP price action.
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