Texas Takes Control of $10 Million Bitcoin Reserve with Direct Ownership Move

The state of Texas has made a significant move in the world of cryptocurrency, transitioning its $10 million Strategic Bitcoin Reserve from an ETF to direct on-chain ownership.

This shift is being managed by the Texas Treasury Safekeeping Trust Company, which will oversee the reserve under the guidance of a new five-member advisory committee.

The decision to transition to direct ownership was made in response to the need for greater control and flexibility over the state's Bitcoin holdings.