BlackRock launches Texas-focused ETF to capitalize on state's business-friendly environment

From Yahoo Finance: 2025-06-24 08:26:00

BlackRock launches Texas-focused ETF to capitalize on state’s business-friendly environment. iShares Texas Equity ETF to invest in companies headquartered in the state, reflecting Texas’ appeal to investors. Texas home to one in ten publicly traded U.S. companies, with 300 firms relocating headquarters since 2015, including Tesla and Oracle.

Texas Stock Exchange, backed by BlackRock and others, targets 2026 launch, showcasing Wall Street’s interest in the state. BlackRock’s relationship with Republican-leaning states complex due to climate-focused investment policies. Texas lawmakers accused BlackRock of boycotting fossil fuel industry, which the firm denied, citing continued investments in energy companies.

BlackRock manages nearly $380 billion in Texas assets, including $115 billion in oil and gas sector, making it a major investor in the region. Texas recently removed BlackRock from list of companies viewed as hostile to energy sector. Texas’ growth potential attracts asset managers looking to tap into state’s success.

Read more: BlackRock rolls out Texas ETF as Lone Star State draws capital, companies