In the latest Financial disclosures filed on July 7, Senator Pat Toomey(R-PA) has invested in two of Grayscale’s trusts. He invested in two of the major cryptocurrency. Toomey is a US senator from Pennsylvania.
Tommey’s purchases make him one of the first senators to publicly invest in crypto. However, Cynthia Lummis was earlier to announce Bitcoin holdings.
Tommey’s purchases make him one of the first senators to publicly invest in crypto, though Cynthia Lummis was earlier to announce Bitcoin holdings.
Yesterday, Alabama Congressman Barry Moore revealed that he brought Ethereum(ETH), Cardano(ADA) and Dogecoin (DOGE). Unlike Moore, Senator Toomey chose to buy Grayscale’s publicly traded trust offerings. They 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 significant dips on June 22, from which they have since recovered.