Report links Pentagon official to defense ETF interest before Iran strike

A broker for U.S. Defense Secretary Pete Hegseth reportedly explored a multimillion-dollar investment into BlackRock’s defense-focused ETF shortly before the U.S.-Israeli strike on Iran, according to the Financial Times.

The inquiry was made in February through Morgan Stanley but the deal did not go through, as the fund was not yet available to those clients. It is unclear what role Hegseth had in the attempt.

The Pentagon denied the report, calling it false.
BlackRock declined to comment.

The case adds to broader scrutiny around well-timed trades ahead of major policy decisions.

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