Performing Texas Comptroller Kelly Hancock on Thursday introduced the members of the Texas Strategic Bitcoin Reserve Advisory Committee, a newly created physique tasked with guiding the state’s administration, custody, and valuation of bitcoin holdings.
The committee was established beneath Senate Invoice 21, passed by the 89th Texas Legislature and signed into legislation on June 22, 2025 — making Texas one of the outstanding states within the nation to maneuver ahead with an operational bitcoin reserve.
“The Legislature gave the Comptroller’s workplace a transparent accountability to manage the Texas Strategic Bitcoin Reserve, and that work should be finished with transparency, safety and robust monetary controls,” Hancock mentioned in a statement Thursday. “This advisory committee brings collectively the sort of experience wanted to assist the state perform that course fastidiously, responsibly and in the perfect curiosity of Texas taxpayers.”
The five-member committee — which incorporates Hancock himself — attracts on a broad vary of economic, authorized, and digital asset experience.
Laurie Dotter, who chairs the Funding Advisory Board for the Workers Retirement System of Texas, brings greater than 35 years of funding and governance expertise.
Jamie McAvity, founder and CEO of Cormint Information Programs, is a nationally acknowledged bitcoin miner working a 130-megawatt facility in Fort Stockton with high effectivity rankings.
Authorized scholar Carla Reyes, a professor at Southern Methodist College, at present serves on the federal Commodity Futures Buying and selling Fee’s Innovation Advisory Committee and has testified earlier than Congress on blockchain coverage.
Rounding out the panel is Gary A. Vecchiarelli, CPA, president and CFO of CleanSpark, who constructed that firm’s institutional-grade BTC buying and selling desk, yield methods, and digital asset governance framework.
The workplace additionally issued an RFP seeking a professional crypto custodian to help its Strategic Bitcoin Reserve, which at present holds about $10 million in publicity by way of the iShares Bitcoin Belief (IBIT), with companies overlaying safe custody, liquidity, and asset administration.
The transfer alerts a deliberate transition from ETF-based publicity to straight custodied Bitcoin inside 60 days of contract execution, reflecting a shift towards full possession, institutional-grade safety, and broader crypto asset help over time.
Washington’s personal Bitcoin reserve push hits hurdles
Texas’s transfer comes because the federal authorities continues working to solidify its personal Strategic Bitcoin Reserve — a course of that has confirmed extra sophisticated than initially anticipated.
President Trump signed an govt order on March 6, 2025, directing the Treasury Division to determine a reserve seeded with BTC already held by felony and civil asset forfeitures — an estimated 328,372 BTC, making the U.S. the biggest identified state holder of BTC on this planet.
The order explicitly bars the Treasury from promoting these bitcoin.
Nonetheless, the trail to a proper, codified reserve has confronted delays. In January 2026, Patrick Witt, Government Director of the President’s Council of Advisors for Digital Belongings, acknowledged “obscure authorized provisions” nonetheless wanted to be overcome.
By Might 2026, Witt signaled {that a} main authorized breakthrough had been reached, saying an announcement on the reserve was imminent.
Laws to make the reserve everlasting can also be advancing in Congress. The American Reserves Modernization Act — co-sponsored by Senator Cynthia Lummis and Consultant Nick Begich — would authorize the Treasury to buy as much as 200,000 BTC per 12 months for 5 years, with holdings locked for no less than 20 years.
If handed, the Treasury’s first open-market Bitcoin buy is projected for This fall 2026.
