U.S. Senator Dave McCormick Revealed as Congress's Largest Bitcoin ETF Investor

Crypto has officially broken into the heart of U.S. politics, with the 2024 election serving as a turning point.

U.S. Senator Dave McCormick, the former Bridgewater Associates CEO known for his hefty investments, has emerged as the largest investor in the Bitwise Spot Bitcoin ETF, internal documents reveal. The ETF, which is ranked sixth in total assets with $3.65 billion under management and trades at around $51 with daily volume of about $58 million.

The e-mail correspondence from August 2023 showcases McCormick’s significant contributions to the ETF, with his investments spanning over a year and a year to the day, respectively. His latest purchase of 20,000 BWB was made just three days before Trump announced plans for a national Bitcoin reserve.

McCormick’s bullish stance on crypto earned him support from Coinbase CEO Brian Armstrong and may have helped tip the scales in his tight race. He’s described 2025 as a breakout year for digital finance, tying crypto’s future to economic growth and national defense.

Other lawmakers are also investing in crypto. House Representative Marjorie Taylor Greene has disclosed holdings in another Bitcoin ETF, while Senator Steve Daines, who was previously exposed to several crypto funds, has since divested.

This shift marks a significant turning point, introducing a new dimension to the American political landscape. As Trump's administration focused on cryptocurrency policy, candidates like Kamala Harris attempted to pivot their campaigns toward the digital asset sphere. However, Trump's early lead in the crypto domain proved insurmountable, ultimately carrying him back into office.