US President Donald Trump significantly increased his holdings in traditional financial assets such as stocks and bonds during 2025, even as his family aggressively promoted cryptocurrency ventures that generated substantial revenue, according to a Reuters analysis of his latest financial disclosures.
The financial disclosure filed with the U.S. Office of Government Ethics shows Trump earned more than $1.4 billion last year from crypto-related businesses, including World Liberty Financial and the Trump meme coin. Those earnings coincided with a sharp increase in his investments in conventional financial instruments.
Analysis found that Trump's stock and bond portfolio expanded at least fourfold over the past year. His holdings in traditional financial assets were valued between $703 million and $2.6 billion at the end of 2025, compared with a range of $225 million to $608 million at the close of 2024. Because the disclosure reports asset values in ranges rather than precise amounts, Reuters said it could not determine exactly how much of the crypto income was redirected into traditional investments.
The analysis suggests that while Trump has maintained exposure to digital assets, a significant portion of his personal wealth remains invested in lower-risk financial instruments. It was reported that several digital asset experts who reviewed the disclosures viewed the investment pattern as an indication that Trump does not rely on cryptocurrencies as the primary store of his personal wealth.
Trump did not disclose investments in two publicly traded cryptocurrency companies backed by his sons, Eric Trump and Donald Trump Jr., despite the family's active involvement in promoting digital asset businesses.
The disclosures also reveal that Trump continues to hold substantial stakes in World Liberty Financial. As of the end of 2025, he owned 15.75 billion governance tokens in the company, with the stake listed at a value exceeding $50 million. The tokens were awarded in exchange for his role as a co-founder and are subject to a longer vesting period than those held by public investors.
In addition, the Trump entities managing the president's interests in World Liberty Financial and the Trump meme coin project held at least $160 million worth of Bitcoin and Ether, along with as much as $6 million in other digital tokens at the end of 2025. Reuters noted this represented a significant increase from the relatively modest Ether holdings disclosed a year earlier.
The Trump Organization said the president's financial disclosure demonstrates that the business maintains a strong financial position backed by valuable assets, substantial liquidity and a conservative balance sheet. However, Reuters reported that the organization did not explain why a considerable portion of crypto-generated wealth had been invested in traditional financial assets.
The White House told Reuters that the president's assets are managed through fully discretionary accounts overseen by independent third-party financial institutions.
World Liberty Financial also defended its long-term strategy, with spokesperson David Wachsman telling Reuters that the company believes digital asset technology will play a central role in the future of financial services.
The disclosures come amid continued scrutiny of Trump's crypto ventures. Reuters reported last month that retail investors in four major Trump-backed cryptocurrency projects had collectively lost approximately $2.3 billion as of April, even as the ventures generated substantial income for businesses tied to the president.
Trump's two eldest sons have remained prominent advocates for cryptocurrencies since late 2024. Reuters reported that Eric Trump has repeatedly promoted Bitcoin in media appearances and at industry conferences, describing it as a leading investment opportunity while expressing confidence in its long-term appreciation. According to Reuters, Eric Trump also said last year that his father strongly believed in digital assets.
