Trump funneled crypto proceeds into traditional stocks and bonds, disclosure filings reveal

President Donald Trump directed a substantial share of the proceeds from his family’s cryptocurrency ventures into conventional stocks and bonds, according to financial disclosure filings, even as Trump and his two eldest sons publicly urged investors to pour money into crypto projects that ultimately produced steep losses for many retail buyers.

Trump earned more than 1.4 billion dollars last year from his family’s crypto ventures, including World Liberty Financial and the Trump branded meme coin, according to his most recent financial disclosure filed with the United States Office of Government Ethics.

An analysis of Trump’s holdings over the past two years found that his portfolio of stocks and bonds grew at least fourfold as crypto earnings flowed in. Trump held between 703 million dollars and 2.6 billion dollars in these traditional financial instruments by the end of 2025, compared with between 225 million dollars and 608 million dollars at the end of 2024. Financial disclosure forms typically report holdings within ranges rather than precise figures, and it remains unclear exactly how the crypto earnings Trump reported were converted into these more conventional assets.

Trump has retained a portion of his crypto holdings, but nine digital asset experts who reviewed the analysis said the filings reflect the financial behavior of someone who does not treat crypto as a primary vehicle for preserving personal wealth. Beyond the meme coin and World Liberty Financial, Trump did not report purchasing shares in two publicly traded crypto companies backed by his sons Eric Trump and Donald Trump Jr.

Timothy Massad, director of the Digital Assets Policy Project at Harvard University’s John F. Kennedy School of Government, said the disclosure suggests Trump’s personal financial strategy involves generating quick returns from crypto sales while ultimately moving those profits into traditional assets such as stocks and bonds. Massad noted the apparent contrast between this pattern and Trump’s public rhetoric describing digital assets as the frontier of modern finance and pledging to position the United States as a global hub for cryptocurrency. Massad previously chaired the Commodity Futures Trading Commission, the federal agency with regulatory authority over certain crypto assets, during the administration of President Barack Obama.

A separate investigation last month found that retail investors across the four major Trump backed crypto projects had lost a combined 2.3 billion dollars as of April.

Trump’s Organization has stated that it maintains a conservative balance sheet. His latest filing shows he continues to hold a large volume of digital tokens issued by World Liberty Financial, a company he co founded alongside his sons, and that his overall exposure to digital currencies has grown.

By the end of last year, Trump held 15.75 billion World Liberty crypto governance tokens, valued at more than 50 million dollars. He received these tokens as compensation for his role in founding the company, and as a co founder, he faces a longer vesting period than ordinary token holders before he can sell his personal holdings.

The Trump owned companies responsible for managing his interests in World Liberty Financial and the Trump meme coin project held at least 160 million dollars in bitcoin and ether, the two most widely held cryptocurrencies, along with up to 6 million dollars in other digital tokens by the end of 2025, according to the disclosure. That figure marks a sharp increase from the 1 million to 5 million dollars in ether Trump reported holding at the end of 2024.

Trump’s adult children oversee the trust structure that manages the president’s financial assets and have positioned themselves as the most prominent public advocates for the investment potential of Trump affiliated crypto projects. Since November 2024, Eric Trump, who runs the Trump Organization, the parent structure overseeing the president’s broader business operations, has repeatedly told media outlets and conference audiences that bitcoin represents the greatest asset of the current era and predicted its value would eventually reach 1 million dollars, up from roughly 64,000 dollars at recent trading levels.

Eric Trump said last year that his father held strong personal conviction in the long term value of digital assets. Neither Eric Trump nor Donald Trump Jr. responded to requests for comment regarding the president’s investment activity.

The disclosure adds to ongoing scrutiny of the financial relationship between Trump’s public promotion of cryptocurrency and his family’s underlying business interests in the sector. Ethics experts and financial analysts have increasingly examined how the president’s personal investment decisions align, or fail to align, with the public statements he and his sons have made encouraging everyday investors to enter the crypto market. The gap between the family’s public messaging and the more conservative allocation of actual crypto proceeds has drawn particular attention from watchdog groups tracking potential conflicts of interest tied to the president’s business holdings during his time in office.