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Texas Comptroller's Office to Transfer $10M Bitcoin from IBIT ETF to Direct Custody

GateNews
Stocks
BTC1.43%
IBIT0.14%

According to Cointelegraph, Texas's Comptroller's Office has issued a tender to transfer its $10 million strategic bitcoin reserve from BlackRock's IBIT spot ETF to direct custody. The selected vendor must complete the transition from IBIT holdings to self-custody bitcoin within 60 days of contract execution and will be responsible for purchasing, holding, managing, and reporting the state's bitcoin and other qualified cryptocurrency assets.

Texas's Strategic Bitcoin Reserve Advisory Committee has been formally established to provide guidance on custody arrangements, risk management, and investment strategy.

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1000x Vibes 🤑
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