Incoming Treasury Secretary Scott Bessent Discloses $500k in Bitcoin ETF, Which He Will Divest

Bessent's portfolio features ETFs such as the SPDR S&P 500 Trust (SPY) and the Invesco QQQ Trust (QQQ). However, his BlackRock Bitcoin ETF investment has drawn significant attention.

President-elect Donald Trump’s nominee for Treasury Secretary, Scott Bessent, has disclosed owning up to $500,000 in BlackRock’s Bitcoin ETF (NYSE:IBIT) among other ETF assets.Bessent’s financial disclosures show a total portfolio valued at around $521 million, including both traditional and crypto investments. As his Senate approval hearing approaches on January 16, 2025, his diverse portfolio has raised questions about potential conflicts of interest.

The portfolio includes ETFs like the SPDR S&P 500 Trust (NYSE:SPY) and the Invesco QQQ Trust (Nasdaq:QQQ). However, Bessent’s BlackRock Bitcoin ETF investment has drawn attention.

Mathew Sigel, head of research at VanEck, has commented on Bloomberg’s suggestion that Bessent may need to liquidate his Bitcoin ETF holdings upon confirmation.

Sigel expressed confusion over the Bloomberg report, stating that there has been no official announcement regarding a requirement for Bessent to sell his IBIT holdings. The situation has sparked discussions about regulatory scrutiny and conflicts of interest if Bessent assumes the office.

When announcing Bessent’s appointment, President Trump spoke about his role in advancing U.S. growth and addressing economic challenges. He highlighted Bessent’s expertise in both traditional markets and emerging sectors like cryptocurrency.

If confirmed, Bessent’s ability to navigate the intersection of crypto and traditional finance could define his tenure as Treasury Secretary.

Bitcoin ETFs have seen a massive influx of資金自2024年起，據Farside Investors透露，現貨比特幣 ETF 錄得淨流入約 362 億美元。

BlackRock’s IBIT alone brought in around $38 billion, which was countered by losses of over $21 billion from the Grayscale Bitcoin Trust (GBTC) during the same period.

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