US President Donald Trump channelled a significant share of the billions of dollars he earned from his family’s cryptocurrency ventures into traditional investments such as stocks and bonds, according to newly released financial disclosures filed with the US Office of Government Ethics. The filings, which cover his 2025 finances, indicate that while Trump publicly championed digital assets, his personal investment strategy leaned heavily towards conventional financial instruments.The disclosures show Trump received more than $1.4 billion last year from family-backed crypto ventures, including World Liberty Financial and the Trump meme coin.At the same time, Reuters’ analysis of the filings found that his holdings in stocks and bonds increased at least fourfold over the past two years. By the end of 2025, Trump held between $703 million and $2.6 billion in traditional financial assets, compared with between $225 million and $608 million a year earlier.The financial disclosures report asset values in ranges rather than exact amounts, making it impossible to determine precisely how much of the crypto income was redirected into stocks and bonds. However, digital asset experts who reviewed Reuters’ analysis said the filings suggest Trump does not view cryptocurrency as the primary store of his personal wealth.“Although the President talks about digital assets as the frontier of finance and making the United States the crypto capital of the world, the disclosure form suggests his personal strategy is to make a quick buck from crypto through the sale of his meme coin and World Liberty tokens but then invest his profits in traditional assets like stocks and bonds,” said Timothy Massad, director of the Digital Assets Policy Project at the John F Kennedy School of Government at Harvard University. Massad previously served as chairman of the Commodity Futures Trading Commission under former President Barack Obama.The disclosures nevertheless show Trump has expanded his exposure to digital assets. At the end of 2025, he held 15.75 billion World Liberty Financial governance tokens valued at more than $50 million. The filing states that he received the tokens because of his role as a co-founder and is subject to a longer vesting schedule than other investors before he can sell them.The Trump companies that manage the president’s interests in World Liberty Financial and the Trump meme coin project also held at least $160 million in bitcoin and ether, along with up to $6 million in other digital tokens at the end of 2025. The holdings represented a sharp increase from the $1 million to $5 million worth of ether reported at the end of 2024.The White House said Trump’s assets are held in “fully discretionary accounts managed by independent third-party financial institutions.”A spokesperson for the Trump Organization said the president’s financial disclosure “demonstrates that The Trump Organization continues to maintain a strong financial position, supported by world-class, valuable assets, substantial liquidity and a conservative balance sheet.” The spokesperson did not explain why crypto proceeds had been invested in traditional financial assets.World Liberty spokesperson David Wachsman said, “World Liberty has been built for the long-term, and we strongly believe the future of financial services will be architected with digital asset technology.”Trump’s latest disclosures come after Reuters reported last month that retail investors in the four main Trump-backed crypto projects had collectively lost $2.3 billion as of April.Throughout the past year, Trump’s two eldest sons have remained among the most prominent public advocates of the family’s crypto ventures. Since November 2024, Eric Trump has repeatedly described bitcoin as “the greatest asset” of modern times and predicted it would eventually reach $1 million in value. He also said last year that his father “believed in digital assets in a big way.”Neither Eric Trump nor Donald Trump Jr. responded to Reuters’ requests for comment on the president’s investment strategy.
