Simply put
- First-term Congressman Brandon Gill is an enthusiastic supporter of the White House’s cryptocurrency policies.
- The Texas Republican invested up to $150,000 in shares of BlackRock’s Bitcoin ETF.
- Recently, Bitcoin has given up its year-to-date gains.
Rep. Brandon Gill (R-Texas) has reportedly added up to $300,000 in Bitcoin and shares of a major Bitcoin exchange-traded fund (ETF) to his already substantial holdings, according to a recent report. This transaction was filed with the House Clerk on November 18th.
Gill, who has a background in investment banking and is a strong ally of former President Donald Trump, purchased between $100,000 and $250,000 in Bitcoin on October 20, and then, nine days later, invested between $15,001 and $50,000 in BlackRock’s iShares Bitcoin Trust ETF (IBIT). These forms often list ranges rather than precise figures.
As a member of the House Budget Committee, this first-term lawmaker has been actively increasing his stake in Bitcoin, the leading cryptocurrency by market cap. Since taking office in January, he has reportedly traded up to $2.6 million in Bitcoin and purchased as much as $150,000 in IBIT this year.
Gill’s office hasn’t responded yet to requests for comments.
Bitcoin has been relatively stable at around $92,140 in the past 24 hours, according to CoinGecko data, although it has dropped roughly 27% since reaching an all-time high exceeding $126,000 last month.
BlackRock’s IBIT currently manages over $74 billion in assets, making it significantly larger than the next leading spot Bitcoin fund, as reported by Coinglass.
According to Gill’s disclosures, he engaged in up to $1.5 million in Bitcoin purchases in three separate transactions over a three-week span starting in late June, including up to $1 million on June 20. Earlier in the year, he also bought around $850,000 in Bitcoin through four transactions starting in late January.
Transparency advocates have pointed out that Gill did not properly disclose up to $500,000 in previous Bitcoin trades within the required 45-day timeframe mandated by federal law.
He recorded purchases between $100,001 and $250,000 in Bitcoin on January 29 and February 27 but only filed those transactions on June 2, after missing the deadline set by the Stop Trading on Congressional Knowledge (STOCK) Act.
This act, established in 2012, is designed to prevent insider trading by requiring timely disclosures regarding securities transactions in digital assets. Penalties for violations are minimal, typically around $200, which can be waived by Congressional Ethics Committees.
Gill has been openly supportive of cryptocurrencies. His January trade came shortly after Trump issued an executive order advocating for reduced regulation of digital assets. The February purchase was made just before Trump introduced the “Strategic Bitcoin Reserve” initiative on March 6. He made additional purchases in May that attracted media attention.
Rep. Marjorie Taylor Greene (R-Ga.) has also reported investing up to $60,000 in IBIT this year. Earlier, Rep. Guy Reschenthaler (R-Pennsylvania) divested from Bitcoin, XRP, and Solana.
Aside from cryptocurrencies, Gill also has investments in the technology-focused Invesco QQQ Trust ETF.
In an email response, David Myers, Director of Communications and Marketing at OpenSecrets, noted, “Cryptocurrency trading is just as unethical, if not more, than stock trading.” He emphasized that legislators must disclose their transactions to allow the public to assess their motives—whether for their constituents or personal gain. He also hinted at concerns about whether investors are attempting to gain favor with the White House, given the connections to the administration’s family in crypto.
