Sixteen months after President Donald Trump ordered his administration to build a federal bitcoin reserve, the White House says it is still working out how the fund should be structured, and a dispute between two departments has slowed the effort, according to recent reporting from Bloomberg.

Trump signed an executive order in March 2025 to create what he called a Strategic Bitcoin Reserve, along with a separate U.S. Digital Asset Stockpile for other cryptocurrencies. 

The order directed the Treasury and Commerce departments to develop budget-neutral methods for acquiring bitcoin, ones that would not draw on taxpayer money. 

The reserve was to be funded in large part with…

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