In late 2025, U.S. Senator David McCormick’s financial disclosure forms revealed a series of significant Bitcoin-related investments, sparking concerns about timing, ethics, and potential conflicts of interest. The trades, conducted through the Bitwise Bitcoin ETF (BITB), occurred between November 24 and November 28, but these were not officially disclosed until December 26.
Details of the Investments
McCormick reported multiple purchases in the Bitwise Bitcoin ETF, totaling up to $200,000. Notable trades included two transactions valued between $50,001 and $100,000 each, executed on November 26 and November 28. Additional transactions included a $15,001 to $50,000 purchase on November 25 and another $50,001 to $100,000 investment on November 24.
While performance data shows that the November 25 trade gained approximately 2.29%, the November 24 trade witnessed a slight loss of about 0.72%. These trades have drawn heightened scrutiny due to McCormick’s position on the Senate Committee on Banking, Housing, and Urban Affairs, as well as the Subcommittee on Digital Assets — two influential groups in cryptocurrency regulation.
Regulatory Sensitivities
Bitcoin ETFs, such as Bitwise, are directly impacted by cryptocurrency regulations. This connection makes investments from policymakers, especially those involved in regulatory discussions, contentious and raises questions about insider knowledge.
These trades coincided with disclosure of other conservative financial moves, including purchases of up to $500,000 in municipal bonds from states like Pennsylvania and Ohio. The mix of high-risk cryptocurrency investments and stable municipal bonds depicts a calculated but intensive investment strategy.
Are These Trades Legal?
Under current regulations, McCormick’s actions are legal, though they amplify ongoing debates about the ethics of congressional trading. Critics argue that such trades erode public trust due to the potential for leveraging insider knowledge, even when done within the law.
What You Can Learn
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