Sen. McCormick Sells $5M in Goldman Sachs Shares Amid Oversight Role

Capitoltrades' 2iQ Research data shows Pennsylvania Sen. Dave McCormick executed a sell of Goldman Sachs shares valued between $1,000,000 and $5,000,000 on Feb. 28, 2025 at a listed price of $622.29 per share, a trade published on the platform March 30, 2025 and flagged as filed after 29 days. McCormick is a member of the Senate Committee on Banking and a former CEO of Bridgewater Associates, making the timing of the partial sale notable for staff who follow the committee’s jurisdiction over banking regulation.

Financial filings and aggregated reporting describe the transaction as a partial sale of his position in Goldman Sachs. The same disclosures show a cluster of purchases in the Bitwise Bitcoin ETF across late February and March, with Benzinga’s dated transaction list totaling eight buys between Feb. 27 and Mar. 20 that add up to between $260,000 and $600,000 in BITB. Capitoltrades lists a BITB buy on Mar. 20, 2025 of $50,000 to $100,000 at $45.81 per share, published March 30 and filed after nine days.

McCormick’s investment activity in both bank stock and bitcoin-linked ETFs coincides with his Senate role and his recent political profile. Benzinga notes that McCormick narrowly won his 2024 Senate seat and was publicly endorsed during the campaign by Coinbase CEO Brian Armstrong, who said, “If you live in Pennsylvania, you should vote for Dave McCormick. He is the better candidate on crypto (among many other credentials,” reflecting the senator’s perceived pro-crypto posture.

The disclosures extend beyond Goldman Sachs and BITB. Capitoltrades’ table documents multiple purchases in Pennsylvania entities and corporate trades: a Mar. 17, 2025 buy of $100,000–$250,000 in Bethlehem Area School District, Mar. 4 buys of $100,000–$250,000 in the Delaware River Port Authority and smaller Commonwealth of Pennsylvania entries, a Feb. 27–28 pair of purchases for the Pennsylvania Turnpike Commission, and on Mar. 13 a $250,000–$500,000 sell in Paramount Global alongside a $250,000–$500,000 buy in General Mills.

Disclosure timing is another detail staff and ethics officers will note: the Goldman Sachs trade shows a nearly month-long lag between trade date and publication, and the BITB entry shows a shorter nine-day lag on one item. Public records cited in reporting do not specify share counts, whether trades were pre-scheduled under a 10b5-1 plan, or whether Senate ethics clearance applied.

Those gaps point to immediate reporting follow-ups: obtain the official transaction filings for exact share counts and prices, ask McCormick’s Senate office whether the Goldman Sachs sale was pre-scheduled or pre-cleared, and cross-check Banking Committee activity around Feb. 28, 2025 for any GS-related oversight or legislative actions. The disclosures place a senator who oversees banking policy at the center of renewed scrutiny about when and how lawmakers trade financial-sector securities.