Trump's Treasury Nominee Scott Bessent to Divest $500,000 in BlackRock Bitcoin ETF

Jan 12, 2025, 01:10 AM

Scott Bessent, Donald Trump's nominee for U.S. Treasury Secretary, has disclosed owning up to $500,000 in a Bitcoin ETF managed by BlackRock. Bessent plans to divest these holdings before assuming his role to avoid conflicts of interest. His financial disclosure forms indicate assets exceeding $700 million, including property in the Bahamas and investments in Bitcoin. Bessent's divestment strategy includes resigning from Key Square Group and selling his partnership share. This move aligns with his commitment to steer clear of any potential conflicts as he prepares for his Senate confirmation hearing.