- The White House’s new 160-page crypto policy report does not include any details about a federal Bitcoin reserve or digital asset stockpile, despite previous executive orders requesting such plans.
- A senior official confirmed the Treasury is still working on the infrastructure for managing a Bitcoin reserve, with updates expected “in short order.”
- Trump’s crypto directives remain in place, but public transparency on Bitcoin accumulation and strategic reserves is still lacking as the administration focuses on regulatory frameworks first.
Despite President Donald Trump’s earlier directives, the much-anticipated White House crypto policy report released Wednesday will not include any recommendations or details related to the creation of a federal Bitcoin reserve or a digital asset stockpile. A senior administration official confirmed the omission, noting that although the report spans over 160 pages and includes dozens of regulatory suggestions, it sticks to broader industry frameworks and steers clear of one of the president’s most publicized crypto ambitions.
This absence comes despite the fact that Trump’s January executive order specifically instructed agencies to “evaluate the potential creation and maintenance of a national digital asset stockpile.” A follow-up executive order in March went even further, formally establishing a “Strategic Bitcoin Reserve” and a digital asset stockpile managed by the Treasury. That March order required an official evaluation by May—but no such document has been released publicly.
Why the Delay? Treasury Still Working on Bitcoin Reserve Infrastructure
According to the official, the U.S. Treasury is still actively developing the infrastructure needed to manage a federal Bitcoin reserve, suggesting that the public may hear more about it “probably in short order.” However, the spokesperson would not confirm if such information would come in the form of a public report or statement.
In private conversations earlier this year, Trump administration officials had signaled that they saw Bitcoin as a strategic digital commodity, akin to gold, with long-term implications for national reserves and fiscal sovereignty. But even as interest grew, concrete plans for how much Bitcoin would be acquired, how it would be funded, or how it would be stored have not yet materialized.
Background: Executive Orders and Regulatory Landscape
The crypto report published today stems from Trump’s first digital asset executive order issued in January 2025, which also led to the formation of the White House Working Group on Digital Asset Markets, chaired by David Sacks, the administration’s AI and crypto czar. That report, developed with input from the Treasury, DOJ, Commerce, and Homeland Security, does aim to create a regulatory framework to clarify legal treatment of digital assets across agencies.
Meanwhile, the Senate is progressing on the regulatory front as well, introducing a new market structure bill that could revive Initial Coin Offerings (ICOs) and clarify the legal boundaries between crypto securities and commodities.
What’s Next?
While today’s report leaves out the Bitcoin reserve narrative, the administration appears to be playing a longer game. The official hinted that updates on the reserve will emerge soon, suggesting that more substantial policy moves may be announced later this summer. That leaves the door wide open for future executive actions or even congressional appropriations related to digital asset accumulation.
