Texas pursues direct control of $10M Bitcoin reserve, soliciting custodian to unwind IBIT ETF holdings
Texas has issued a request for proposals to move about $10 million in Bitcoin holdings from BlackRock’s IBIT ETF into direct custody within a 60‑day window [1].
The state of Texas is seeking a custodian to transfer roughly $10 million of its Strategic Bitcoin Reserve out of BlackRock’s IBIT exchange‑traded fund and into direct Bitcoin custody, and has given providers a 60‑day timeframe to complete the move [1] [2].
The solicitation calls for qualified custodial partners able to provide custody services along with liquidity management and transparency reporting; the shift is described as a move from indirect ETF exposure to full asset control under state custody arrangements [2] [3].
Officials and observers note the transaction and broader expansion of Texas’ Strategic Bitcoin Reserve may set a precedent for other states considering digital‑asset allocations in public portfolios [4] [5].
Texas has formally requested proposals to effect the conversion and set a 60‑day window for the transfer, marking a concrete step toward direct state custody of its Bitcoin holdings [1].
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Citations
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- 1Texas Bitcoin reserve plans $10M shift from IBIT to BTC custodycrypto.news• May 29, 2026
- 2Texas Shifts Bitcoin Holdings from ETF to Direct Custody ControlBlockonomi• May 29, 2026
- 3Texas Transitions Bitcoin Holdings From ETF to Direct Custody SolutionMoneyCheck• May 29, 2026
- 4Texas expands Bitcoin acquisitions for strategic reserveCrypto Briefing• May 29, 2026
- 5Texas shifts Strategic Bitcoin Reserve from ETF to direct custodyCrypto Briefing• May 29, 2026
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