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$HYPE 【Texas Strategic Bitcoin Reserve Shifts from IBIT ETF to Direct Custody】
The Texas Office of the State Auditor has issued a tender, planning to transfer its $10 million strategic Bitcoin reserve from BlackRock's IBIT spot ETF to directly custody Bitcoin. The successful bidder must complete the transition from IBIT holdings to directly custody Bitcoin within 60 days after contract execution, and be responsible for purchasing, holding, managing, and reporting on Bitcoin and other qualified cryptocurrency assets within the state. Additionally, they will build a public website to disclose reserve holdings. Furthermore, the Texas Strategic Bitcoin Reserve Advisory Committee has been officially established to provide advice on custody arrangements, risk management, and investment strategies.