What is the Texas Strategic Bitcoin Reserve?

The Texas Strategic Bitcoin Reserve is a state-managed programme designed to hold Bitcoin as part of Texas' financial assets. It was established under Senate Bill 21, which became law in June 2025 and gave the Texas Comptroller authority to oversee the reserve.

Why is Texas moving from a Bitcoin ETF to direct Bitcoin ownership?

Texas currently has about $10 million of Bitcoin exposure through BlackRock's iShares Bitcoin Trust ETF. The state now plans to hold Bitcoin directly, which gives it direct ownership of the asset rather than exposure through an investment vehicle.

Who will oversee the Texas Bitcoin Reserve?

The reserve will be guided by a five-member advisory committee led by Acting Comptroller Kelly Hancock. The committee includes experts in investment management, Bitcoin mining, digital asset regulation, accounting and corporate finance.

Why is Texas looking for a crypto custodian?

Texas is seeking a qualified crypto custodian to provide secure storage, liquidity services and asset management for its Bitcoin holdings. The custodian will be responsible for safeguarding the state's digital assets under strict financial controls.

How much Bitcoin exposure does Texas currently have?

According to the Comptroller's office, Texas currently holds approximately $10 million in Bitcoin exposure through BlackRock's Bitcoin ETF. The state intends to convert that exposure into directly held Bitcoin within 60 days of appointing a custodian.

Why does the Texas Bitcoin Reserve matter for Bitcoin investors?

The move represents one of the most advanced state-level Bitcoin adoption initiatives in the United States. It could strengthen Bitcoin's position as a strategic reserve asset and encourage other states to consider similar programmes.

How does the Texas Bitcoin Reserve compare with the federal Strategic Bitcoin Reserve?

Texas is actively implementing its reserve structure, while the federal Strategic Bitcoin Reserve remains under development. The federal initiative currently focuses on retaining Bitcoin obtained through forfeitures, with broader acquisition plans still awaiting legal and legislative approval.

What role does President Donald Trump's Bitcoin reserve order play?

Trump signed an executive order directing the Treasury Department to create a Strategic Bitcoin Reserve using forfeited Bitcoin holdings. The order prevents the government from selling those assets and forms the foundation of the federal reserve effort.

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Texas advances Bitcoin reserve as US plan stalls

Written by Mahathir BayenaPublished May 30, 2026, 12:34 AM

Texas has moved closer to holding Bitcoin directly after appointing a five-member advisory committee to oversee the state's Strategic Bitcoin Reserve and advise on custody, valuation and asset management.

Acting Comptroller Kelly Hancock said the committee would help the state manage the reserve with transparency, security and strong financial controls following the passage of Senate Bill 21 in 2025.

“Lawmakers gave our office a clear responsibility to administer the reserve with transparency, security and sound financial controls,”

Said Texas Acting Comptroller, Kelly Hancock.

The committee includes investment executive Laurie Dotter, Cormint Data Systems founder Jamie McAvity, Southern Methodist University law professor Carla Reyes and CleanSpark chief financial officer Gary Vecchiarelli.

Texas has also launched a search for a qualified crypto custodian to support the reserve, with plans to move from approximately $10 million in exposure through BlackRock’s Bitcoin ETF to direct Bitcoin holdings within 60 days of signing a contract.

The move places Texas among the most active US states pursuing a formal Bitcoin reserve strategy, with the state signalling that additional digital assets could eventually be supported under the programme.

Meanwhile, the federal government continues developing its own Strategic Bitcoin Reserve after President Donald Trump ordered the Treasury Department to retain forfeited Bitcoin holdings, while legislation backed by Senator Cynthia Lummis and Representative Nick Begich could eventually allow the Treasury to purchase up to 200,000 Bitcoin annually for five years.

At the time of reporting, Bitcoin price was $73,403.65.