Trump's Treasury Secretary nominee Scott Bessent plans to divest from Bitcoin ETF investments to avoid conflicts of interest.

According to reports from Bloomberg, if approved by the U.S. Senate, Scott Bessent, the nominee for U.S. Treasury Secretary by President-elect Trump, will resign from his position at Key Square Group and sell his shares to avoid any conflict of interest. Bessent disclosed assets worth at least $521 million in his personal financial disclosure. He also listed a personal investment not exceeding $500 thousand in an iShares exchange-traded fund linked to the price of Bitcoin. Similar to the assets he holds through Key Square Capital, Bessent will divest from cryptocurrency-based ETFs.