[Texas Strategic Bitcoin Reserve Shifts from IBIT ETF to Direct Custody] According to Deep Tide TechFlow on May 29, as reported by Cointelegraph, the Texas Comptroller's Office has issued a request for proposals to transition its $10 million strategic Bitcoin reserve from BlackRock's IBIT spot ETF to directly custodied Bitcoin. The selected bidder must complete the transition from IBIT holdings to directly custodied Bitcoin within 60 days of contract execution and will be responsible for purchasing, holding, managing, and reporting on the state's Bitcoin and other eligible cryptocurrency assets. Additionally, they must establish a public website to disclose reserve holdings. Furthermore, the Texas Strategic Bitcoin Reserve Advisory Committee has been officially formed to provide recommendations on custody arrangements, risk management, and investment strategies.