Rep. Sheri Biggs (R-SC) has made headlines following her recent financial disclosure involving a significant investment in BlackRock’s iShares Bitcoin Trust ETF (IBIT). On March 4, Biggs purchased an amount between $100,001 and $250,000 via her spouse’s professionally managed account at UBS Financial Services. This transaction was officially reported to the House Clerk on April 16, adhering to the STOCK Act’s requirement for disclosure within a 45-day window.
This latest purchase marks at least the second instance of a substantial investment by the Biggs household in IBIT. In July 2025, her husband had previously acquired a similar stake in the ETF shortly before pro-cryptocurrency legislation advanced through the House. That prior transaction, however, raised eyebrows when it was reported late, incurring a $200 penalty for failing to comply with the STOCK Act’s reporting timeline. Following that purchase, IBIT’s value rose approximately 12% in the three months that followed.
The recent disclosure also outlines two smaller investments in Apollo Debt Solutions BDC and a divestment from Oaktree Strategic Credit Fund, suggesting a strategic realignment in their investment portfolio towards cryptocurrency and debt markets.
The timing of Biggs’ investment has drawn particular attention, coinciding with ongoing discussions in the Senate regarding legislation that could transition the federal government into a major purchaser of Bitcoin. The BITCOIN Act of 2025, introduced by Sen. Cynthia Lummis (R-WY), aims to instruct the Treasury to acquire one million Bitcoin over a five-year period and store them securely in a decentralized network of federal facilities.
Alongside this effort, the Mined in America Act, introduced on March 30 by Senators Cassidy and Lummis, seeks to codify an executive order from former President Trump that would enable certified U.S. miners to sell newly mined Bitcoin directly to the Treasury. If adopted, these legislative measures could position the federal government as one of the largest Bitcoin holders worldwide, potentially providing a significant boost to investment vehicles like IBIT, which already oversees approximately $55 billion and commands a notable 70% market share among U.S. spot Bitcoin ETFs.
While current regulations allow congressional members to trade stocks and ETFs, the repeated controversies surrounding the timing of such trades have prompted bipartisan calls for stricter regulations or an outright ban on trading activities among lawmakers.
