Rep. Sheri Biggs (R-SC) disclosed a purchase of $100,001 to $250,000 in BlackRock’s iShares Bitcoin Trust ETF (IBIT) on March 4, made through her spouse’s professionally managed account at UBS Financial Services.
The filing, submitted to the House Clerk on April 16, landed within the STOCK Act’s 45-day reporting window. It arrives as the Senate weighs legislation that could turn the federal government into a large-scale Bitcoin (BTC) buyer.
Biggs Adds to Growing Bitcoin Position
The March trade marks at least the second six-figure IBIT purchase by the Biggs household. In July 2025, her husband acquired between $100,001 and $250,000 of the same ETF roughly one week before pro-crypto legislation passed the House.
That earlier transaction was disclosed months late, violating the STOCK Act’s 45-day rule and triggering a $200 penalty. Trackers noted IBIT gained about 12% in the three months following the buy.
The same April filing also listed two smaller purchases of Apollo Debt Solutions BDC and a sale of Oaktree Strategic Credit Fund holdings, signaling a broader portfolio shift toward crypto and debt exposure.
Strategic Bitcoin Reserve Bill Looms in Senate
The timing draws additional scrutiny because S.954, the BITCOIN Act of 2025, remains before the Senate Banking Committee.
Introduced by Sen. Cynthia Lummis (R-WY), the bill would direct the Treasury to acquire one million BTC over five years and store them in a decentralized network of secure federal facilities with a 20-year minimum hold.
Related efforts continue to build momentum. The Mined in America Act, introduced March 30 by Sens.
Cassidy and Lummis, would codify President Trump’s executive order establishing the reserve and let certified U.S. miners sell newly mined BTC directly to the Treasury.
If passed, these measures could make the federal government one of the largest holders of Bitcoin globally, a catalyst for assets like IBIT, which already manages roughly $55 billion and commands about 70% market share among U.S. spot Bitcoin ETFs.
Congressional members remain legally permitted to trade stocks and ETFs under current rules. However, repeated timing controversies have fueled bipartisan calls for a full trading ban.
