BlackRock (BLK) launches iShares Texas Equity ETF (TEXN)

Today, BlackRock (NYSE: BLK) launched the iShares Texas Equity ETF (NASDAQ:TEXN), opening greater access to invest in the strength and diversity of the Texas economy through the efficiency and convenience of an exchange-traded fund (ETF). TEXN invests in U.S. companies headquartered in Texas, providing investors targeted exposure to a dynamic state economy.

Texas leads the nation in business and population expansion. As a hub for innovation and enterprise, Texas is home to 1 in 10 publicly traded companies in the U.S.1 Since 2015, more than 300 companies have moved their headquarters to the state,2 reinforcing its role as a national leader across sectors such as energy, technology, and industrials. In addition, Texas ranked first in population growth in 2024, surpassing 31 million in total population.3

Now the eighth largest economy in the world by GDP on a standalone basis, Texas has demonstrated strong economic momentum in recent years. In 2024, the state’s GDP reached a record $2.7 trillion, growing at an annualized rate of 3.5% in the fourth quarter, outpacing the national average of 2.4%.4

“TEXN presents a new opportunity for Texans, and investors across the country, to invest in nearly 200 companies powering the state’s economy and to capitalize on Texas’ twin engines of business and population growth,” said Joe DeVico, Head of the Americas Client Business at BlackRock.

Simplifying access to the Texas economy through TEXN

TEXN joins BlackRock’s deep bench of geography-based product offerings, including over 60 mutual funds and ETFs with over $100 billion in assets under management, that target a single-country or region.5

“With over 400 ETFs in the U.S., iShares provides access to nearly every corner of the market to meet our clients’ financial goals,” said Elise Terry, Head of U.S. iShares at BlackRock. “TEXN offers more choice to investors seeking convenient, tax-efficient, and transparent ways to build portfolios that reflect their investment views.”

BlackRock manages close to $380 billion in assets in public companies in Texas,6 including $115 billion in Texas oil and gas companies, making it one of the largest investors in the state.7 Today, there are 2.2 million Texas-based investor accounts served through iShares ETFs, and with TEXN, Texas-based clients now have a new way to invest in the state’s economy through iShares.8

About BlackRock
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter @blackrock | LinkedIn: www.linkedin.com/company/blackrock

About iShares
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1500+ exchange traded funds (ETFs) and $4.3 trillion in assets under management as of March 31, 2025, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

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