Appearing 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 below Senate Invoice 21, handed by the 89th Texas Legislature and signed into legislation on June 22, 2025 — making Texas some of the outstanding states within the nation to maneuver ahead with an operational bitcoin reserve.
“The Legislature gave the Comptroller’s workplace a transparent duty to manage the Texas Strategic Bitcoin Reserve, and that work have to be completed with transparency, safety and robust monetary controls,” Hancock mentioned in an announcement Thursday. “This advisory committee brings collectively the sort of experience wanted to assist the state perform that course rigorously, responsibly and in the perfect curiosity of Texas taxpayers.”
The five-member committee — which incorporates Hancock himself — attracts on a broad vary of monetary, authorized, and digital asset experience.
Laurie Dotter, who chairs the Funding Advisory Board for the Staff Retirement System of Texas, brings greater than 35 years of funding and governance expertise.
Jamie McAvity, founder and CEO of Cormint Knowledge 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 the moment 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 in search of a professional crypto custodian to assist its Strategic Bitcoin Reserve, which at the moment holds about $10 million in publicity through the iShares Bitcoin Belief (IBIT), with companies masking safe custody, liquidity, and asset administration.
The transfer alerts a deliberate transition from ETF-based publicity to instantly custodied Bitcoin inside 60 days of contract execution, reflecting a shift towards full possession, institutional-grade safety, and broader crypto asset assist 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 government order on March 6, 2025, directing the Treasury Division to determine a reserve seeded with BTC already held via legal and civil asset forfeitures — an estimated 328,372 BTC, making the U.S. the biggest recognized state holder of BTC on the earth.
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, Govt Director of the President’s Council of Advisors for Digital Property, 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 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 at least 20 years.
If handed, the Treasury’s first open-market Bitcoin buy is projected for This fall 2026.