US Senator Reveals He’s Invested in Bitcoin and Ethereum – Here’s How Much Crypto He Holds

A US lawmaker who sits on the powerful Senate Banking Committee is disclosing his investments in Bitcoin (BTC) and Ethereum (ETH).

Pennsylvania Republican Pat Toomey has invested up to $30,000 in BTC and ETH through Grayscale’s trust offerings. 

Per a disclosure Toomey filed with the Senate Office of Public Records, Toomey invested between $1,001 and $15,000 in the crypto-asset management giant’s Grayscale Ethereum Trust (ETHE) on June 14th, and between $1,001 and $15,000 in the Grayscale Bitcoin Trust (GBTC) on June 15th.

Toomey’s prior financial report from 2019 shows no sign of crypto holdings, although he has been an advocate for the cryptocurrency space in the past.

Last month, the senator wrote to Treasury Secretary Janet Yellen calling for significant revisions to two proposals seeking to address illicit misuse of cryptocurrencies.

“[The proposals] would have a detrimental impact on financial technology, the fundamental privacy of Americans, and efforts to combat illicit activity.” 

Senator Toomey also defended Facebook in 2019 against regulators’ attempts to crack down on the company’s cryptocurrency plans.

The senator announced last year in October that he won’t be running for re-election in 2022, citing personal reasons for his decision.