Texas Shifts Strategic Bitcoin Reserve From ETF Exposure to Direct BTC Custody, Launches RFP
Texas is shifting its Strategic Bitcoin Reserve away from ETF exposure and toward direct custody of spot bitcoin in cold storage. Acting Texas Comptroller Kelly Hancock has appointed a four-member advisory committee to oversee the transition and launched a request for proposals for a firm to provide custody and liquidity services.
The selected provider would acquire, hold, manage and report the state's bitcoin holdings, while also building a public website to display reserve holdings and educational materials. The committee includes a CleanSpark executive and a bitcoin-mining chief executive, as Texas moves from legislation to implementation of the reserve.
From the sources (6 posts)
@bitcoinmagazineJUST IN: 🇺🇸 Texas announces the creation of the "Texas Strategic Bitcoin Reserve Advisory Committee." Texas is now also looking for a qualified firm to custody their BTC for when they buy more 🚀
@theblockcoTexas appoints CleanSpark exec, bitcoin miner CEO to Strategic Bitcoin Reserve committee
@theblockcoRT @CryptoBizzle: Texas has been taking some big steps to set up its bitcoin reserve. Committee members joining Comptroller Hancock includ…
@bitcoinmagazineTexas is pivoting from buying Bitcoin ETFs to buying spot BTC held in cold storage for their Strategic Bitcoin Reserve 🇺🇸 Love to see it 👏
@coinmarketcapLATEST: 🇺🇸 Texas is shifting its strategic Bitcoin reserve from ETF exposure to direct BTC custody, establishing a four-member advisory committee to oversee the transition.
@bitcoinnewscomTEXAS TAKES ANOTHER STEP TOWARD ITS STRATEGIC BITCOIN RESERVE Acting Texas Comptroller Kelly Hancock has appointed the members of the Texas Strategic Bitcoin Reserve Advisory Committee and launched an RFP for a firm to provide custody and