Rep. Sheri Biggs Buys Bitcoin ETF Amid Senate Push for Federal BTC Reserve

Republican Congresswoman Sheri Biggs of South Carolina has disclosed a purchase of BlackRock's iShares Bitcoin Trust ETF (IBIT) valued between $100,001 and $250,000, made on March 4 through her spouse's professionally managed UBS Financial Services account. The filing was submitted to the House Clerk on April 16, falling within the STOCK Act's required 45-day reporting window.

This is at least the second major IBIT investment by the Biggs household. Back in July 2025, her husband made a similarly sized purchase of the same Bitcoin ETF approximately one week before pro-crypto legislation cleared the House floor. That transaction was reported late, violating STOCK Act disclosure rules and resulting in a $200 fine. In the three months that followed, IBIT posted roughly 12% in gains. The April filing also covered two smaller purchases in Apollo Debt Solutions BDC and a partial exit from Oaktree Strategic Credit Fund, reflecting a broader move toward crypto and credit-focused assets.

The latest disclosure draws heightened attention given current legislative activity in the Senate. The BITCOIN Act of 2025, sponsored by Senator Cynthia Lummis of Wyoming, proposes directing the U.S. Treasury to purchase one million Bitcoin over five years and hold them in secure federal vaults for a minimum of two decades. Complementing this is the Mined in America Act, introduced in late March by Senators Lummis and Cassidy, which would formalize President Trump's executive order on a strategic Bitcoin reserve and allow certified domestic miners to sell newly minted BTC directly to the federal government.

Should these bills pass, the U.S. government could become one of the world's largest Bitcoin holders, a development that would likely benefit funds like IBIT, which currently manages around $55 billion and holds approximately 70% of the U.S. spot Bitcoin ETF market. Congressional stock trading continues to face growing bipartisan scrutiny, with repeated calls for an outright ban on individual member investments.