$500K BlackRock Bitcoin ETF Stake Sparks Conflict Concerns for Treasury Nominee

Scott Bessent, nominee for Treasury secretary under President-elect Trump, disclosed a personal investment of up to $500,000 in Blackrock’s Bitcoin ETF. Ishares Bitcoin Trust (IBIT).

Part of a portfolio valued at over $521 million, the ETF highlights Bessent’s ties to cryptocurrencies. He has pledged to divest assets posing conflicts of interest. Including the Bitcoin ETF and holdings tied to his hedge fund, Key Square Group. Which is set to close by March. As Treasury secretary, Bessent would play a key role in shaping cryptocurrency regulation and economic policy, with his confirmation hearing likely addressing these interests.

Clever Robot News Desk 13^th January 2025