Dominari Holdings to Invest $2 Million in BlackRock Bitcoin ETF
Dominari Holdings (DOMH), linked to Donald Trump’s sons, is investing part of its cash reserves into a spot bitcoin ETF, specifically BlackRock’s iShares Bitcoin Trust (IBIT). This decision follows the brothers joining the company’s board and investing last month.
- Dominari has committed $2 million to purchase shares of IBIT.
- IBIT is currently the largest spot bitcoin ETF, with a market cap around $70 million.
- The fund's shares fell over 9% in Friday's trading.
- This approach contrasts with typical corporate strategies that involve direct bitcoin purchases and self-custody.
Donald Trump Jr. is actively involved in crypto projects, further aligning the investment strategy with his interests. Recently, World Liberty Financial (WLFI), associated with the Trump family, promoted its stablecoin at a crypto event in Washington.