Senator McCormick Invests $1M in Bitcoin ETF Just Before Trump’s Strategic Reserve Plan
The post Senator McCormick Invests $1M in Bitcoin ETF Just Before Trump’s Strategic Reserve Plan appeared first on Coinpedia Fintech News
The 2024 U.S. presidential election marked a historic shift as crypto became a key campaign battleground. Donald Trump’s early endorsement of digital assets gave him a clear edge, earning massive support from the crypto community and ultimately propelling him to a second term. Meanwhile, Democratic candidate Kamala Harris made last-minute efforts to align with pro-crypto sentiments , but it was too little, too late.
Now, with Trump back in power, the intersection of crypto and politics is more prominent than ever.
Senator Dave McCormick Holds $1M in Bitcoin ETFs
According to U.S. Senate Financial Disclosure data , Senator Dave McCormick of Pennsylvania—formerly the CEO of Bridgewater Associates—is the largest Bitcoin investor in Congress.
In total, he has invested over $1 million in the Bitwise Spot Bitcoin ETF, with significant purchases in both February and March 2025. One notable investment of $65,000–$150,000 came just days before Trump announced plans to establish a Strategic Bitcoin Reserve .
The Bitwise ETF, currently trading at $50.96 with a 24-hour volume of $57.92 million, ranks as the sixth-largest Bitcoin ETF by assets under management (AUM), valued at $3.65 billion.
Coinbase CEO Supports McCormick’s Crypto Stance
McCormick’s pro-crypto position was not only a campaign highlight but a strategic advantage. His optimistic views earned endorsements from industry leaders like Coinbase CEO
Brian Armstrong
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At a Senate hearing in February 2025, McCormick declared that “2025 will be the year for digital assets,” underlining his belief that crypto and blockchain can drive innovation, strengthen national security, and support economic growth.
Other Lawmakers Join the Crypto Bandwagon
McCormick isn’t alone. Rep. Marjorie Taylor Greene also revealed investments in the iShares Bitcoin Trust ETF. Meanwhile, Senator Steve Daines previously held shares in multiple crypto-related ETFs but has since liquidated his positions.
As political support for digital assets grows, it’s becoming clear that crypto is no longer a fringe issue—it’s now part of the U.S. legislative mainstream.
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FAQs
McCormick believes digital assets are the future of innovation and the U.S. economy. His investment reflects strong confidence in Bitcoin’s long-term value, especially amid growing political support.
Trump’s early and vocal support for the crypto industry earned him overwhelming backing from the digital asset community, giving him a crucial edge in a closely contested race.
Expect a more favorable environment for crypto innovation—reduced regulatory pressure, strategic reserves like Bitcoin holdings, and increased institutional adoption encouraged by pro-crypto policies.
While not publicly confirmed, it’s likely a mix of profit-taking and precaution ahead of shifting regulatory scrutiny during the transition period before Trump’s win.
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