Texas Bitcoin reserve plans shift from ETF to direct BTC custody

AI Impact AnalysisGrok analyzing...

📄Full Article· Automatically extracted by trafilatura1698 words

RFP issued by the Texas Comptroller of Public Accounts. Source: Texas Comptroller The mandate covers secure custody of digital assets in the name of the State of Texas, liquidity services to facilitate purchases and sales, and a transition plan that would shift existing IBIT holdings into directly custodied Bitcoin within 60 days of contract execution. The RFP goes beyond basic safekeeping, requiring institutional-grade security controls, standard and custom reporting, and a dedicated public website showing how much Bitcoin and other qualifying cryptocurrencies the reserve holds and what they are worth. Related: Crypto-backed candidates win key Texas primary runoffs The request for proposals was highlighted in a statement from Acting Comptroller Kelly Hancock announcing the members of the Texas Strategic Bitcoin Reserve Advisory Committee. The panel includes veteran investment executive Laurie Dotter, Cormint Data Systems founder and CEO Jamie McAvity, Southern Methodist University law professor and digital asset scholar Carla Reyes, and CleanSpark president and chief financial officer Gary Vecchiarelli. The committee is tasked with advising on how the reserve is run, including custody arrangements, risk management and how the state discloses its holdings and performance to lawmakers and the public, as well as broader governance of the reserve’s investment strategy. Supporters of the law that created the reserve have pitched Bitcoin, and potentially other large-cap cryptocurrencies, as a strategic asset that can help hedge against inflation and economic volatility over time. Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt More on the subject

Data Status✓ Full text extractedRead Original (CoinTelegraph)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-05-29

Texas Names Bitcoin Reserve Advisory Committee as State Eyes Direct Bitcoin Custody

2026-05-20

Bitcoin rallies through $77K despite spot BTC ETF outflows topping $2B

2026-05-20

Why Trump's bitcoin ETF plans likely collapsed before getting off the ground

2026-05-12

Wells Fargo lifts Ether ETF holdings in Q1 as Bitcoin positions shift

2026-04-23

BlackRock drives 7-day Bitcoin ETF inflow streak as BTC nears $80,000