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Senator McCormick Invests $1 Million in Bitcoin ETFs

Coin WorldFriday, Apr 25, 2025 3:25 am ET
1min read

U.S. Senator Dave McCormick, a Pennsylvania Republican and former CEO of hedge fund Bridgewater Associates, has emerged as 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. In March alone, the lawmaker invested approximately between $310,000 to $700,000 in the Bitwise ETF. 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.

Ask Aime: "Could Senator McCormick's Bitcoin investments impact the market?";

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’ 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.

Apart from Sen. McCormick, other lawmakers have also shown interest in cryptocurrencies. 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.

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auradragon1
04/25
Sen. McCormick's crypto moves make him a boss. 💰
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ContentSort1597
04/25
$1M in BTC ETFs? Big moves. Wonder if he's eyeing the moon or just steady gains.
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vanilica00
04/25
Gotta diversify, folks. Gold isn't everything
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The_Sparky01
04/25
Bridgewater alum going heavy on crypto. Could be the start of a new trend in DC. 📈
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stydolph
04/25
Sold $1M-$5M in Goldman stock. Diversifying like a pro. Wonder what's next on his list.
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Defeat3r
04/25
@stydolph What’s your take on Goldman? Still holding or looking to sell?
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Very_Guilty_Lawyer
04/25
2025 is the year for digital assets? Betting he's got a plan to make that happen.
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scccc-
04/25
Not just him - other lawmakers jumping on the crypto bandwagon too. It's going mainstream.
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shackofcards
04/25
Goldman Sachs dumped? Interesting pivot, Senator.
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whatclimatecrisis
04/25
$1M in BTC ETFs? Mad gains, bro.
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Interesting_Mix_3535
04/25
Rep. Greene playing the long game with IBIT.
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JRshoe1997
04/25
Personally holding a mix of BTC and $TSLA. Diversify and hedge, that's my play.
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Such-Ice1325
04/25
iShares Bitcoin Trust ETF? More folks stacking up on $IBIT. Might be time to follow the herd.
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AP9384629344432
04/25
Coinbase CEO backing him? That's some serious street cred in the crypto world.
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Anteater_Able
04/25
Crypto innovation could boost PA and America. Senator's onto something big. 🤑
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AP9384629344432
04/25
Senator playing the long game with BTC. 🚀 Hedge fund vibes, but crypto's the new kid on the block.
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WhichAmphibian6678
04/25
@AP9384629344432 Do you think BTC will moon?
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