Senator David McCormick (R-Pa.) has been actively buying up shares of a Bitcoin ETF in 2025. The purchases come alongside limited trading activity in stocks and options, but could raise concerns about a conflict of interest given his committee assignments.
Here’s a look at the latest purchases.
Senator Goes Bitcoin Shopping Again
McCormick disclosed buying shares of the Bitwise Bitcoin ETF (NYSE: BITB) during Thanksgiving week, according to the Benzinga Government Trades page.
According to the disclosure, McCormick purchased the following:
- Nov. 26: Buy $50,000 to $100,000 BITB
- Nov. 28: Buy $50,000 to $100,000 BITB
The senator also bought and sold multiple municipal securities, as reported on the latest disclosure.
McCormick’s disclosures in 2025 have mostly included municipal securities and Bitcoin ETFs. Here’s a look at the senator’s purchases of BITB this year:
- Nov. 25: $15,000 to $50,000
- Nov. 24: $50,000 to $100,000
- April 9: $15,000 to $50,000
- April 7: $15,000 to $50,000
- April 3: $15,000 to $50,000
- April 2: $15,000 to $50,000
- March 31: $15,000 to $50,000
- March 27: $50,000 to $100,000
- March 25: $50,000 to $100,000
- March 24: $15,000 to $50,000
- March 20: $50,000 to $100,000
- March 13: $15,000 to $50,000
- March 11: $15,000 to $50,000
- March 10: $50,000 to $100,000
- March 5: $15,000 to $50,000
- March 3: $50,000 to $100,000
- Feb. 28: $15,000 to $50,000
- Feb. 27: $50,000 to $100,000
- Feb. 26: $15,000 to $50,000
- Feb. 25: $50,000 to $100,000
In total, McCormick has now purchased at least $680,000 in shares of the Bitwise Bitcoin ETF in 2025, with the potential of up to $1.6 million in shares purchased during the year.
The latest purchases on Nov. 26 and Nov. 28 were made while Bitcoin (CRYPTO: BTC) traded between $86,316.90 to $92,969.09. Bitcoin trades at $87,252.99 at the time of writing.
Bitcoin is down 6.2% year-to-date in 2025, while the Bitwise Bitcoin ETF is down 10.0% year-to-date in 2025. Many of McCormick’s purchases of the Bitcoin ETF came with Bitcoin trading between $80,000 and $90,000. By avoiding purchases in the months of May through October, McCormick didn’t buy shares of the Bitcoin ETF when the leading cryptocurrency was trading for more than $100,000.
Did You Know?
- Congress Is Making Huge Investments. Get Tips On What They Bought And Sold With Our Easy-to-Use Tool
McCormick’s Crypto History
The senator has been perceived as being friendly to the cryptocurrency sector, which prompted an endorsement from a key crypto figure in his 2024 Senate race.
McCormick, the former CEO of the hedge fund Bridgewater Associates, narrowly won a Senate seat in the 2024 election. During his Senate campaign, McCormick was endorsed by Coinbase Global CEO Brian Armstrong for his pro-crypto support.
“If you live in Pennsylvania, you should vote for Dave McCormick. He is the better candidate on crypto (among many other credentials,” Armstrong said at the time.
A senator buying Bitcoin ETFs could signal support for the leading cryptocurrency. The purchase and timing could also draw red flags and continue the hot debate over whether members of Congress should be able to profit off the buying and selling of stocks, options and cryptocurrencies.
On the day of McCormick’s first ETF purchase (Feb. 25), he was part of the Senate Banking Subcommittee on Digital Assets’s first hearing.
“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. Proud to be a member of the inaugural Senate Banking Subcommittee on Digital Assets,” McCormick tweeted.
McCormick’s involvement in the Subcommittee on Digital Assets and his heavy trading in a Bitcoin ETF will likely invite scrutiny ahead of a potential Bitcoin Strategic Reserve.
Read Next:
Photo: Shutterstock
Recent Comments