Rep. Sheri Biggs bought up to $250K of BlackRock Bitcoin ETF

Rep. Sheri Biggs (R-SC) disclosed on Friday that she purchased up to $250,000 of BlackRock’s spot Bitcoin ETF, IBIT, on March 4. The disclosure lists a value range that could place the purchase as low as $100,000.

The filing was made days after an outbreak of hostilities involving the U.S., Israel and Iran. At the time of the trade, Bitcoin traded near $67,800; the cryptocurrency has risen about 14% since that low.

Lawmakers report transactions in value ranges, which is why the filing shows a maximum amount rather than an exact dollar figure. Around the same date, Biggs bought shares in a private credit fund managed by Apollo and sold a similar product linked to Oaktree.

Biggs was sworn in as the representative for South Carolina’s 3rd Congressional District in January. She disclosed a prior IBIT purchase in July that was also listed at up to $250,000.

An outside analysis published last October found that Biggs appeared to miss a 45-day deadline to disclose more than 170 trades made by her and her husband, including the earlier IBIT transaction. The March 4 filing indicated she was close to the statutory reporting deadline for the latest trade.

The Stand With Crypto Alliance, a grassroots group launched by Coinbase, describes Biggs as a strong supporter of crypto. Public records show she voted in favor of the CLARITY Act, the GENIUS Act and H.J. Res 25, a resolution that removed certain tax reporting requirements for some decentralized finance activities.

Investment in crypto-related assets has become more common among U.S. lawmakers, including purchases of tokenized assets and stakes in companies known for holding Bitcoin. In November, a former member of Congress disclosed a purchase of BlackRock’s IBIT valued between $1,000 and $15,000.

Biggs’s office did not immediately respond to a request for comment.