The White House said the Trump administration is still evaluating how to structure a Strategic Bitcoin Reserve and a separate U.S. Digital Asset Stockpile. The effort remains unfinished more than a year after the March 2025 executive order that started the process.
The White House said the Trump administration is still evaluating how to structure a Strategic Bitcoin Reserve and a separate U.S. Digital Asset Stockpile. The effort remains unfinished more than a year after the March 2025 executive order that started the process.
The delay matters because the reserve had been treated by many in the crypto industry as a major policy commitment from Washington. A formal U.S. bitcoin reserve could affect how companies, lobbyists and market participants view federal support for digital assets, but the source makes clear that the project is not yet guaranteed to become fully operational.
The Trump administration is still working out how to build and manage a federal bitcoin reserve, according to CoinDesk. The White House said officials continue to evaluate the best structure for a Strategic Bitcoin Reserve and a separate U.S. Digital Asset Stockpile, 16 months after President Donald Trump ordered agencies to begin the effort in March 2025.
The delay matters because the reserve had been treated by many in the crypto industry as a major policy commitment from Washington. A formal U.S. bitcoin reserve could affect how companies, lobbyists and market participants view federal support for digital assets, but the source makes clear that the project is not yet guaranteed to become fully operational.
CoinDesk reported that a Bloomberg report identified a key unresolved question: where the reserve would be housed. The Treasury Department and Commerce Department have both reportedly been considered as possible homes for the funds, adding complexity to the process.
The White House has also pointed to Congress as a necessary part of the plan. Current and former White House crypto advisers have said legislation would be needed to fully support the creation and activation of the reserve, but no such bill has advanced. CoinDesk noted that the political path could become harder if Republicans lose control of the House or both chambers in the midterm elections.
The March 2025 order also asked agencies to explore ways to acquire additional bitcoin without using taxpayer money. For now, the government’s existing bitcoin holdings remain the central issue, with CoinDesk citing an estimate of more than 300,000 BTC. The administration has described the proposed reserve as a long-term holding, though CoinDesk noted that it does not match the usual emergency-use meaning of a strategic reserve.
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