Scott Bessent, nominated by President-elect Donald Trump for Treasury Secretary, has pledged to liquidate a range of investments, including his holdings in bitcoin (BTC) exchange-traded funds (ETFs), in an effort to avoid conflicts of interest should he be confirmed for the position.

The New York Times reports that Bessent, a billionaire hedge fund manager with a history working alongside George Soros, filed the necessary financial disclosures and ethics agreement on Saturday in anticipation of his Senate confirmation hearing. These disclosures revealed assets exceeding $700 million, including BTC ETF investments valued between $250,000 and $500,000.

In addition to the BTC investments, Bessent’s portfolio includes other potential conflicts, such as a margin loan with Goldman Sachs exceeding $50 million, a currency trading account for China’s yuan, and a stake in All Seasons, a conservative publishing entity.

Bessent committed to ensuring there are no “actual or apparent conflicts of interest” if he takes the Treasury role. His potential appointment would come during a critical time, with the nation’s growing federal debt and Trump’s tax policies in play.

An advocate for tax reform and deregulation, Bessent has supported policies aimed at boosting bank lending and expanding energy production. Last year, he suggested that the incoming Trump administration would continue to pursue a policy of strengthening the U.S. dollar, following a long-term trend in Washington.