The White House says it is still evaluating the most appropriate framework for a federal fund that would hold Bitcoin as a long-term reserve, along with a separate pool for other digital assets.

More than 16 months after Donald Trump ordered the creation of the reserve, officials acknowledge that key details remain unresolved. A Bloomberg report indicates that both the Treasury Department and the Commerce Department are being considered to oversee the initiative.

Trump’s March 2025 executive order called for establishing a strategic bitcoin reserve and a broader digital asset stockpile. Since then, federal agencies have reviewed the government’s crypto holdings—though they have not disclosed the totals—and have been working on plans to build out the funds. However, progress has been slowed by a dispute between the two departments over who should take control.

White House spokesperson Liz Huston said the administration continues to pursue Trump’s vision of making the U.S. a global leader in cryptocurrency and emerging technologies, adding that officials are still assessing the best structure for both the bitcoin reserve and the wider digital asset stockpile.

The administration’s lead crypto adviser, Patrick Witt, along with his predecessor, has indicated that congressional backing will likely be required to fully establish and activate the funds. Executive orders alone do not carry the force of law, and no legislation has been passed so far, although discussions are ongoing in both the Senate and the House of Representatives. If Republicans lose control of one or both chambers in upcoming midterm elections, the chances of formalizing the plan could weaken.

Even if the structure is finalized, it remains uncertain whether the government will formally allocate its bitcoin holdings—estimated at over 300,000 BTC, worth roughly $21 billion—into an official reserve.

The administration views these holdings as a long-term strategic asset, but key questions around implementation and oversight remain unresolved.