Rep. Sheri Biggs Buys Up to $250,000 in BlackRock Bitcoin ETF as Senate Considers Bitcoin Reserve Bill
Rep. Sheri Biggs disclosed a $100,001–$250,000 purchase of BlackRock’s iShares Bitcoin Trust ETF on March 4 through her spouse’s UBS-managed account. The filing meets the STOCK Act’s 45-day deadline and arrives as the Senate considers legislation directing the Treasury to acquire one million BTC over five years.
1. Transaction Details
Rep. Sheri Biggs filed on April 16 that she acquired between $100,001 and $250,000 of BlackRock’s iShares Bitcoin Trust ETF on March 4 via her spouse’s UBS-managed account, satisfying the STOCK Act’s 45-day reporting requirement. This marks the second six-figure IBIT purchase by the Biggs household, following a similar trade in July 2025.
2. Legislative Context
The disclosure coincides with Senate Banking Committee review of S.954, the BITCOIN Act of 2025, which would mandate the Treasury to purchase one million BTC over five years and hold them for at least 20 years. A related Mined in America Act would allow certified U.S. miners to sell newly mined BTC directly to the Treasury, potentially boosting spot ETF inflows.
3. ETF Market Position
BlackRock’s iShares Bitcoin Trust manages roughly $55 billion and commands about 70% of the U.S. spot Bitcoin ETF market, making it the leading vehicle for Bitcoin exposure. Tracker data show IBIT shares gained about 12% in the three months following the Biggs household’s July 2025 purchase.
4. Compliance and Scrutiny
Timing controversies over congressional trades have intensified scrutiny of the STOCK Act’s enforcement after the Biggs family previously missed a disclosure deadline and incurred a penalty. Persistent calls for a congressional trading ban underscore concerns over potential conflicts of interest in digital-asset investments.