Texas' is well written from a custody standpoint, if you believe the state has a right to build a 'reserve'. (Are they hedge funds now?). I looked at WY and OK for somebody who requested a review, and they both contained ETF nonsense. Scanned a few others but has been a while (would check Utah - likely to be on par with TX as they're a little more sovereign and smart than most, but not sure). I'm not a believer in empowering the state with stolen funds converted to Bitcoin, so that's about as far as I'll take it. Almost all state Treasurers are left bell curve fiat normies advised by criminals like JPM - lemmings.