On March 4th, Representative Sheri Biggs of South Carolina reported that her spouse’s investment account at UBS Financial Services purchased between $100,001 and $250,000 worth of shares in the BlackRock iShares Bitcoin Trust ETF (IBIT).
The document was submitted to the House Clerk on April 16th, meeting the 45-day reporting requirement of the STOCK Act. This comes as the Senate considers a bill that could make the U.S. government a major purchaser of Bitcoin.
Biggs Adds to Growing Bitcoin Position
This March represents at least the second time the Biggs family has invested six figures in this particular ETF. Back in July 2025, her husband purchased between $100,001 and $250,000 worth of the same ETF just before the House of Representatives approved legislation favorable to cryptocurrency.
The previous financial transaction wasn’t reported on time, breaking the rule requiring disclosure within 45 days according to the STOCK Act, and resulting in a $200 fine. Data shows the investment increased by roughly 12% in the three months after the purchase.
In the same April report, the firm also noted smaller investments in Apollo Debt Solutions BDC and the sale of some Oaktree Strategic Credit Fund holdings, suggesting they were adjusting their investments to include more cryptocurrency and debt.
Strategic Bitcoin Reserve Bill Looms in Senate
This news is getting extra attention because the Senate Banking Committee is still considering the BITCOIN Act of 2025 (S.954).
Senator Cynthia Lummis of Wyoming has proposed a bill that would require the Treasury Department to purchase one million Bitcoin over the next five years. The Bitcoin would be stored securely in a network of federal facilities and held for at least 20 years.
The BITCOIN Act is back.
— Senator Cynthia Lummis (@SenLummis) March 11, 2025
Related efforts continue to build momentum. The Mined in America Act, introduced March 30 by Sens.
As a crypto investor, I’m watching closely as Senators Cassidy and Lummis are working on a bill that would basically make Trump’s old executive order official. What’s really interesting is it would allow U.S. Bitcoin miners who meet certain requirements to sell newly mined Bitcoin *directly* to the Treasury. That could be a big deal for both the crypto industry and how the government handles digital assets.
If approved, these changes could make the U.S. government a major Bitcoin owner worldwide. This could also boost popular Bitcoin investment products like IBIT, which currently holds around $55 billion in assets and controls approximately 70% of the U.S. market for spot Bitcoin ETFs.
Lawmakers are currently allowed to buy and sell stocks and ETFs, but concerns about potential conflicts of interest – and accusations of insider trading – are leading both Democrats and Republicans to consider prohibiting the practice altogether.
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2026-04-18 01:51