Texas Moves Toward Direct Bitcoin Ownership for Its Strategic Reserve

[madmax]

Texas is taking another step in its Bitcoin strategy by seeking a custody and liquidity provider to transition its Strategic Bitcoin Reserve from exposure through BlackRock's iShares Bitcoin Trust (IBIT) ETF to directly held Bitcoin. The move reflects a growing preference among some institutions and governments for onchain ownership, giving them direct control over digital assets rather than relying on traditional investment vehicles.

The state has allocated $10 million to the reserve and plans to use institutional-grade custody services to securely acquire, store, and manage its Bitcoin holdings. The selected provider will also be responsible for reporting, liquidity management, and maintaining public transparency regarding the reserve's assets. Supporters view Bitcoin as a potential hedge against inflation and economic uncertainty, while the initiative positions Texas as one of the most proactive US states exploring long-term digital asset adoption at the government level.

[etfs]

texas moving from etf exposure to direct bitcoin ownership

[etfs]

reflects a fundamental distinction between financial exposure and asset ownership. direct custody provides greater control but also introduces additional operational responsibilities