U.S. Senator Dave McCormick, a Pennsylvania Republican and ex-CEO of hedge fund Bridgewater Associates, has become the largest Bitcoin investor in Congress.
According to financial disclosures, McCormick has made repeated investments in Bitwise’s spot Bitcoin ETF, purchasing nearly $250,000.
Source: US Senate Financial DisclosuresThe lawmaker has invested approximately between $310,000 to $700,000 in the Bitwise ETF in March alone. In February, McCormick disclosed as much as $450,000 in the same product, bringing his total investments close to $1 million.
Per filings, the Senator bought up $65,000 to $150,000 in shares of the Bitwise Bitcoin ETF, days before Trump’s Executive Order to explore a Strategic Bitcoin Reserve.
Sen. McCormick also disclosed several other trades, notably selling between $1 million and $5 million in Goldman Sachs stock.
Crypto-Friendly Sen. McCormick Endorsed by Coinbase CEO During Campaign
The Senator, who previously headed the hedge fund Bridgewater Associates, has been perceived as being friendly to the cryptocurrency sector.
His pro-crypto stance prompted an endorsement from Coinbase Global CEO Brian Armstrong, helping him narrowly win a Senate seat in the 2024 election.
“[McCormick] is the better candidate on crypto among many other credentials,” Armstrong said at the time.
In February, the lawmaker addressed the Senate Banking Subcommittee on Digital Assets’s first hearing, stressing that “2025 is the year for digital assets.”
“Blockchain and digital assets offer Pennsylvania and America a chance to lead the next wave of innovation, enhancing our national security and our economy,” he wrote on X.
US Senators Having Direct Stakes in Crypto
Apart from Sen. McCormick, Steve Daines of Montana owned a variety of different ETFs, which have since been sold. This includes ProShares Bitcoin Strategy ETF, Bitwise Crypto Industry Innovators ETF, Amplify Blockchain Leaders ETF, Vaneck Bitcoin Strategy ETF, and Valkyrie’s Bitcoin and Ether Strategy ETF.
Republican Representative Marjorie Taylor Greene from Georgia has disclosed buying shares of the iShares Bitcoin Trust ETF (IBIT), shortly before Trump’s Bitcoin Strategic Reserve announcement.
Further, Justin Sun, the advisor to Trump’s World Liberty Financial, has claimed he is the largest shareholder of Valkyrie.
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