Texas Bitcoin reserve plans shift from ETF to direct BTC custody
60-second summary
Texas is actively hiring a crypto custodian to manage its $10 million Strategic Bitcoin Reserve, shifting from BlackRock's IBIT ETF to direct BTC custody. This move aims to establish full state-level BTC infrastructure. The decision signifies growing institutional interest in direct Bitcoin ownership, potentially influencing market adoption and further legitimizing cryptocurrencies in mainstream finance.
Texas is hiring a crypto custodian to move its $10 million Strategic Bitcoin Reserve from BlackRock’s IBIT ETF into directly held coins and build full state‑level BTC plumbing.