In 2025, Senator David McCormick (R-Pa.) has been notably active in purchasing shares of the Bitwise Bitcoin ETF (NYSE: BITB), making numerous acquisitions that cumulatively range from at least $680,000 to as much as $1.6 million. This pattern of investment has occurred alongside limited transactions involving municipal securities, as outlined in his latest financial disclosures released during Thanksgiving week.
The recent disclosures reveal specific purchases made late November, with McCormick acquiring between $50,000 and $100,000 worth of BITB shares on both November 26 and November 28. This continues a series of transactions spanning the year, in which he made multiple buys of BITB shares across various dates including:
- November 25: $15,000 to $50,000
- November 24: $50,000 to $100,000
- April 9, 7, 3, 2: $15,000 to $50,000 each date
- March 27, 25, 20, 10, 3: $50,000 to $100,000 each date
- Several other dates from February 25 through March 13 with purchases ranging between $15,000 and $100,000
Altogether, these transactions represent substantial investment activity in the Bitwise Bitcoin ETF over the period, signifying a consistent approach to accumulating exposure to bitcoin through this financial product.
Notably, the senator's acquisitions occurred predominantly during periods when Bitcoin's market price traded between approximately $80,000 and $90,000. Specifically, the most recent purchases on November 26 and 28 coincided with Bitcoin trading in the range of $86,316.90 to $92,969.09. The current Bitcoin price at the time of reporting stands at roughly $87,252.99.
Throughout 2025, Bitcoin has experienced a decline of about 6.2%, while the Bitwise Bitcoin ETF's price has decreased by roughly 10%, reflecting the broader volatility associated with cryptocurrency investments. McCormick's decision to refrain from purchasing shares between May and October corresponds with the period when Bitcoin's valuation surpassed $100,000, suggesting a timing strategy aligned with price levels below that threshold.
Alongside his notable Bitcoin ETF transactions, McCormick has engaged in several trades involving municipal securities during the year. These activities, while fewer in number, constitute the remainder of his financial disclosure transactions in 2025, indicating a primary focus on crypto-related assets.
Senator McCormick's financial activity around cryptocurrency comes against the backdrop of his legislative role. As a member of the Senate Banking Subcommittee on Digital Assets, McCormick has positioned himself as a figure supportive of blockchain and digital asset innovation. This stance was underscored early in the year when he participated in the subcommittee's inaugural hearing on February 25, coinciding with one of his initial BITB purchases. He publicly expressed enthusiasm for digital assets as a vehicle to strengthen both Pennsylvania's and the United States' economic and security standings.
His pro-crypto perspective was highlighted during his 2024 Senate campaign, which narrowly resulted in a victory. During the race, he received a public endorsement from Brian Armstrong, CEO of Coinbase Global, who positioned McCormick as the favorable candidate on cryptocurrency matters among other qualifications.
The combination of McCormick's legislative influence, especially regarding digital asset policy, and his considerable personal investments in a Bitcoin-focused ETF may invite scrutiny concerning potential conflicts of interest. The timing and scale of his acquisitions parallel legislative actions that could conceivably impact the market conditions for digital assets.
This intersection of public service responsibilities and private investment undertakings remains a focal point in ongoing discussions about Congressional members' ability to trade stocks, options, and cryptocurrencies without undermining ethical standards or public trust.
McCormick's profile as the former CEO of Bridgewater Associates adds further attention due to his background in hedge fund management and financial markets expertise. Observers are closely watching how his dual roles as a policymaker and investor navigate the evolving regulatory landscape of digital assets.
As the debate continues over the propriety and oversight of asset trading by members of Congress, Senator McCormick's significant accumulation of BITB shares amid his legislative duties on digital assets will likely remain a point of analysis for ethics observers, constituents, and market participants alike.
BITB (Bitwise Bitcoin ETF) currently trades around $47.57 per share with a modest increase of 0.06% in recent market activity. Bitcoin itself shows marginal downside movement, reflecting the volatility of the sector in which McCormick is deeply invested.