The US Treasury is developing a custody framework for Bitcoin held by the federal government, combining self-custody with third-party custodians. Estimates of the holdings range from approximately 198,000 BTC to more than 328,000 BTC, with much of the uncertainty linked to coins involved in pending litigation. The initiative builds on the Strategic Bitcoin Reserve created by Executive Order 14233 on March 6, 2025, which prohibits routine sales of forfeited holdings while allowing limited exceptions. It also aims to improve agencies’ reporting on their Bitcoin balances following an initial 30-day review. A decision on publicly disclosing the exact holdings has not yet been made, and possible routes to acquiring more Bitcoin remain subject to legal analysis without any consensus.
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