[Texas Plans to Shift State-Level Bitcoin Reserve from ETF to Self-Custody Spot Holdings] According to Cointelegraph, the Texas State Treasury Office has issued a tender document outlining plans to transition approximately $10 million in the 'Strategic Bitcoin Reserve' from BlackRock's IBIT spot Bitcoin ETF to direct Bitcoin holdings managed by a third-party custodian. The migration of the IBIT position is to be completed within 60 days of contract signing. The winning institution will be responsible for acquiring, custodying, managing, and reporting on Bitcoin and other eligible crypto assets on behalf of Texas, as well as providing liquidity services, security controls, customized reporting, and building a public website to disclose real-time holdings and market value. Texas has also established a Strategic Bitcoin Reserve Advisory Committee to provide recommendations on custody arrangements, risk management, and information disclosure.