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Texas Bitcoin Reserve Program shifts from ETF to direct custody holdings

MeNews
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Abstract generation in progress
ME News Report, May 29 (UTC+8), Texas is seeking custodians and liquidity service providers to transfer its $10 million strategic Bitcoin reserve from the BlackRock iShares Bitcoin Trust (IBIT) spot ETF to direct Bitcoin holdings, with the transition to be completed within 60 days after contract signing. The Texas State Auditor's Office announced the same day the establishment of a Strategic Bitcoin Reserve Advisory Committee, whose members include veteran investment executive Laurie Dotter, Cormint Data Systems founder Jamie McAvity, Southern Methodist University Law Professor Carla Reyes, and CleanSpark President and CFO Gary Vecchiarelli, who will provide advice on reserve custody arrangements, risk management, and disclosure. (Source: Foresight News)
BTC0.26%
IBIT0.07%
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FeeMarketMonk
· 5h ago
Wait for the disclosure details to be released and see how to balance transparency and key security.
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Half-UnderstoodZk
· 5h ago
Gary Vecchiarelli has experience in mining compliance, so risk management should be stable.
View OriginalReply0
IOnlyTrustOn-ChainData.
· 5h ago
Taking back control from BlackRock, managing it ourselves, awakening state-level sovereignty consciousness
View OriginalReply0
TheGiantWhaleInTheReflection
· 5h ago
IBIT liquidity is good, but holding it directly is the ultimate answer—apparently the state treasurers get it.
View OriginalReply0

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