I think that if we are talking about a reserve fund that is supposed to hold the exchange rate, then those funds should be blocked by some kind of smart contract or something like that.
It is blocked or on hold. They have also avax tokens as reserved but didnt able to withdraw it as it locked in the smart contract, unlike bitcoin reserved. They did used it to somehow get back on its pegged but werent succesful as liquidity is continously being eaten by market. Somehow the balance didnt achieved unless they still have deeper pockets to sustained.