Texas is seeking a custody and liquidity provider to transition its $10 million Strategic Bitcoin Reserve from BlackRock’s iShares Bitcoin Trust ETF into directly held coins, according to a state procurement document posted May 7 and highlighted in a Thursday release from the Texas Comptroller’s office. The move marks a formal shift from passive ETF exposure to direct onchain Bitcoin ownership at the state level. Texas allocated $10 million to the Strategic Bitcoin Reserve under Senate Bill 21, signed by Governor Greg Abbott in June 2025. The state used roughly half of that allocation to purchase shares of ... (full story)