A senior Trump administration official confirmed Wednesday that the White House’s hotly anticipated crypto report, which is set to drop today, will not include any recommendations related to the federal government’s creation of a federal Bitcoin reserve or separate digital asset stockpile.
Despite the sprawling report being “over 160 pages long,” according to the official, and containing “dozens of recommendations” related to crypto policy, it will not touch on one of the Trump administration’s most high profile crypto-related goals: creating a strategic reserve of Bitcoin held in perpetuity by the federal government.
“If you look back to the first digital asset executive order, we were tasked with creating a clear regulatory framework for the industry writ large, and so that's what we focused on in this report,” the official said.
They added the Treasury Department is “working diligently” on creating the infrastructure for a Bitcoin reserve, and said there would be updates on the subject “probably in short order” —though stopped short of saying such information would be relayed in an official report.
President Donald Trump’s first crypto-focused executive order, signed in January, did in fact order this crypto report to “evaluate the potential creation and maintenance of a national digital asset stockpile” and “propose criteria for establishing such a stockpile.”
The president’s Working Group on Digital Asset Markets was supposed to, per that executive order, present recommendations within 180 days on both a federal crypto stockpile and on a federal regulatory framework for digital assets.
A second executive order, signed in March, did specifically establish a federal Bitcoin reserve, as well as a digital asset stockpile containing other cryptocurrencies already in the government’s possession.
The March order required the Secretary of the Treasury to, within 60 days, deliver “an evaluation of the legal and investment considerations for establishing and managing the Strategic Bitcoin Reserve and United States Digital Asset Stockpile going forward.”
Such an evaluation, if completed by its early May deadline, has not yet been made public.
In the first weeks of President Trump’s second term, administration officials hammered the importance of safekeeping Bitcoin as a strategic asset akin to gold, and even said they wanted to acquire as much of the cryptocurrency as possible.
In recent months, however, few details have emerged about how such a stockpile would be established, how the U.S. government might fund additional Bitcoin purchases, or how much of the cryptocurrency it already holds.
The White House Working Group on Digital Assets is chaired by White House AI and crypto czar David Sacks. Its crypto report, expected to be released later today, involved input from numerous federal agencies including the Treasury, Justice, Homeland Security, Commerce, and Homeland Security departments.
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