Senator Pat Toomey buys into Grayscale’s Bitcoin and Ether trusts

Jul 7, 2021 | The Block News | 0 comments


Per financial disclosures filed on July 7, Senator Pat Toomey (R-PA) has invested in two of Grayscale’s major cryptocurrency products.

Pat Toomey Financial Disclosure Grayscale Bitcoin Ethereum Trust

Source: Senate Office of Public Records

The records indicate that Toomey purchased between $1,000 and $15,000 each of Grayscale Ethereum Trust and Grayscale Bitcoin Trust on successive days in the middle of June. 

Toomey’s purchases make him one of the first senators to publicly invest in crypto, though Cynthia Lummis was earlier to announce Bitcoin holdings. 

Just yesterday, similar disclosures revealed that Alabama Congressman Barry Moore had bought Ethereum, Cardano and Dogecoin. Unlike Moore, Toomey chose to buy Grayscale’s publicly traded trust offerings, which are based on Grayscale’s holdings rather than a customer’s direct purchase of cryptocurrency.

Market data indicates that the value of Toomey’s holdings has declined somewhat compared to the time at which he bought them. 

Both Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE) experienced local highs around June 14 and 15, when Toomey was purchasing. They experienced major dips on June 22, from which they have since recovered.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from

Related Articles

Here are the 12 biggest crypto hires thus far in 2021

Here are the 12 biggest crypto hires thus far in 2021

Quick Take There has been a big increase in the flow of talent from Wall Street to the crypto world. We take a look at the 12 biggest moves that have happened so far this year. This feature story is available to subscribers of The Block Daily. You can continue reading...

Coinbase, Executives, Investors Hit With Lawsuit Over Nasdaq Listing

Coinbase, Executives, Investors Hit With Lawsuit Over Nasdaq Listing

A class-action lawsuit has been filed against cryptocurrency exchange Coinbase, its executives, and investors over the company’s direct listing on Nasdaq. “According to the complaint, the registration statement and prospectus used to effectuate the company’s offering...

Pin It on Pinterest

Share This