Scott Bessent, Trump’s Treasury Secretary nominee, disclosed a $250K-$500K investment in BlackRock’s bitcoin ETF as part of his $521M portfolio.
President-elect Trump chose Scott Bessent to be his Treasury Secretary. He has said that he has invested between $250,001 and $500,000 in BlackRock’s iShares Bitcoin Trust (IBIT) bitcoin ETF.
As part of the process for confirming him, the U.S. Office of Government Ethics gave this information to the public.
Scott Bessent Plans to Exit Key Investments Amid Bitcoin ETF Disclosure
Along with U.S. Treasury bills, Invesco funds, and foreign assets, the bitcoin ETF is one of Bessent’s well-known investments worth at least $521 million.
If approved, Bessent wants to get rid of interests that could lead to conflicts of interest. These include the bitcoin ETF and assets connected to his hedge fund, Key Square Group.
His hedge fund, which is known for making big investments in the economy as a whole, will stop at the end of March. BlackRock’s bitcoin exchange-traded fund (ETF) shows that standard finance is becoming more open to cryptocurrencies.
