Texas Shifts from Bitcoin ETF to Direct Ownership... State Government Initiates On-Chain Management

The state of Texas is moving its 'strategic Bitcoin reserve,' previously held in BlackRock's spot Bitcoin ETF (IBIT), to direct ownership. This signifies an intent to manage Bitcoin (BTC) as an on-chain asset directly, rather than just through ETF exposure. Texas is reportedly seeking custody and liquidity providers for its $10 million reserve.

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