Rep. Biggs reports six-figure BlackRock Bitcoin ETF buy

Rep. Andy Biggs (R-Ariz.) reported a six-figure purchase of shares in BlackRock's spot Bitcoin exchange-traded fund in a recent congressional financial disclosure. The filing was submitted as bitcoin's market price recovered from a recent decline.

The disclosure places the transaction in the six-figure reporting category required for members of Congress. It lists the BlackRock fund by name but does not state an exact dollar amount or the number of shares purchased.

BlackRock's spot Bitcoin ETF holds bitcoin through a custodian on behalf of shareholders. The fund provides regulated exposure to the cryptocurrency on traditional exchanges, allowing investors to trade shares without directly holding private keys.

U.S. regulators approved several spot Bitcoin ETFs, and those funds have drawn interest from retail and institutional investors. The approval and launch of these ETFs changed how some investors access bitcoin and contributed to trading volume in the sector.

Members of Congress must report transactions in stocks and similar assets to provide transparency about potential conflicts of interest. Disclosure records are filed with congressional financial disclosure authorities and are publicly available.

The filing will be added to public congressional records and may be reviewed by ethics officials or watchdog groups if questions arise. Other lawmakers have reported similar trades in recent months.