US President Donald Trump significantly increased his holdings in traditional financial assets such as stocks and bonds through 2025, even as his family aggressively promoted cryptocurrency ventures that generated significant revenue, according to a Reuters analysis of his latest financial disclosures.

A financial disclosure filed with the US Office of Government Ethics shows Trump earned more than $1.4 billion last year from crypto-related businesses, including World Liberty Financial and Trump Meme Coin. Those earnings coincided with a sharp increase in its investments in traditional financial instruments.

The analysis found that Trump’s stock and bond portfolio has expanded at least fourfold in the past year. Their holdings in traditional financial assets were valued between $703 million and $2.6 billion at the end of 2025, compared to a range of $225 million to $608 million at the end of 2024. Because the disclosure shows asset values ​​in a range rather than a specific amount, Reuters said it cannot determine how much is invested in traditional income.

The analysis suggests that while Trump has maintained exposure to digital assets, a significant portion of his personal wealth is invested in low-risk financial instruments. It was noted that several digital asset experts who reviewed the announcements saw the investment pattern as a sign that Trump is not relying on cryptocurrency 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 World has a significant stake in Liberty Financial. By the end of 2025, he owned 15.75 billion governance tokens in the company, with a stake listed at a value of over $50 million. The tokens were awarded in exchange for their role as co-founders and are subject to a longer duration than those held by public investors.

In addition, the Trump Entities, which manage the president’s interests in World Liberty Financial and the Trump Meme Coin Project, hold at least $160 million in bitcoin and ether, as well as $6 million in other digital tokens, at the end of 2025.

The Trump Organization said the president’s financial disclosures show the business maintains a strong financial position supported by valuable assets, significant liquidity and a conservative balance sheet. However, Reuters reported that the organization did not explain why a significant portion of the crypto-generated wealth was 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 spokesman David Wachsman telling Reuters the company believes digital asset technology will play a central role in the future of financial services.

The disclosure comes 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 about $2.3 billion through April, even as the ventures generated significant revenue for businesses linked to the president.

Trump’s two eldest sons have been prominent advocates of cryptocurrency since late 2024. Eric Trump has repeatedly promoted bitcoin in the media and at industry conferences, describing it as a leading investment opportunity, expressing confidence in its long-term appreciation, Reuters reported. According to Reuters, Eric Trump also said last year that his father was a big believer in digital assets.