U.S. Representative Sherri Biggs reported the purchase of shares in iShares Bitcoin Trust ETF IIBIT from BlackRock. The transaction amount ranged from $100,001 to $250,000. The operation took place on March 4. The politician's spouse executed it through a professionally managed account at UBS Financial Services.
The report was received by the secretary of the House of Representatives on April 16. The document was submitted within the legally established 45-day period of the STOCK Act. The information emerged against the backdrop of discussions on new initiatives in the Senate. Lawmakers are considering a bill to turn the federal government into a major buyer of bitcoin.
Expanding positions in digital assets
The March trade marked at least the second six-figure purchase of IBIT fund shares for the Biggs family. In July 2025, the congresswoman's husband acquired shares of the same instrument for a similar amount. The operation occurred a week before the House passed regulations supporting the industry.
Information about the first trade was disclosed several months late. This violated the STOCK Act rules and led to a $200 fine. Analysts noted an increase in IBIT quotes by about 12% over three months following the operation.
The April report also contains information about other financial movements. The politician's family acquired assets from Apollo Debt Solutions BDC and sold a stake in Oaktree Strategic Credit Fund. Experts see this as a portfolio reallocation towards cryptocurrencies and debt securities.
Initiatives regarding the national reserve
The timing of trades is drawing increased scrutiny from regulators. The BITCOIN Act (S.954) is still under review by the Senate Banking Committee.
The document was introduced by Senator Cynthia Lummis. The initiative mandates the Treasury Department to acquire one million bitcoins within five years. The assets will be stored in a decentralized network of secure federal vaults for at least twenty years.
Related legislative efforts continue to gain momentum. Senators Bill Cassidy and Cynthia Lummis introduced the Mined in America Act on March 30. The document solidifies President Donald Trump's directive to create a reserve. It allows certified U.S. miners to sell mined Bitcoin directly to the Treasury.
The adoption of these measures will make the government one of the largest holders of the world's first cryptocurrency. This will drive growth for instruments like IBIT. The fund already manages assets of $55 billion and holds around 70% of the Bitcoin ETF spot market in the U.S.
Current rules allow Congress members to trade stocks and mutual funds. The ongoing disputes over trade timing are amplifying bipartisan calls for a complete ban on such operations for politicians.