The rumored involvement stems from Tron’s plan to go public via a reverse merger with Nasdaq-listed SRM Entertainment, to be renamed Tron Inc., along with a $100 million private equity deal to build a TRX treasury. While Eric Trump dismissed claims of participation, he and Sun have a documented business history. This includes Sun’s $30 million investment in World Liberty Financial (WLFI), a crypto platform linked to the Trump family. Meanwhile, President Donald Trump’s 2025 financial disclosure revealed $57.4 million in income from WLFI, where he holds over 15 billion governance tokens. Additionally, Trump’s Truth Social filed with the SEC to launch a Bitcoin and Ethereum ETF, with Crypto.com as the proposed custodian. This move was made despite the intense scrutiny over the Trump family’s deepening ties to crypto. Eric Trump Dismisses Tron Deal Rumors Eric Trump, son of US President Donald Trump, denied claims that he will be involved in the Tron blockchain’s upcoming public offering in the United States, despite expressing admiration for Tron founder Justin Sun. “I’m the biggest fan of Tron,” Trump shared on social media, and praised Sun as a “great friend and icon in the crypto space,” but dismissed a report by the Financial Times that suggested he would participate in the venture. Tron’s plans to go public involve a reverse merger with Nasdaq-listed SRM Entertainment, which will be renamed Tron Inc. as part of the transition. The deal also includes a $100 million private equity investment to establish a large TRX treasury. Tron currently ranks as the ninth-largest blockchain network globally, with a market cap of $26.16 billion. Tron’s all-time market cap (Source: CoinMarketCap ) Trump and Sun’s business ties date back to November when Sun became the largest investor in World Liberty Financial by acquiring $30 million worth of WLFI tokens. Eric Trump played a pivotal role in shaping World Liberty Financial, which is a crypto platform closely associated with his family. The Trump family’s involvement in the crypto sector deepened earlier this year with the launch of American Bitcoin, a mining company preparing for a public debut via merger with Dryphon Digital Mining. Since April , the company accumulated 215 BTC, worth approximately $23.3 million. Eric Trump believes Bitcoin is a critical global asset, and called its accumulation an international “arms race” due to interest from sovereign wealth funds, ultra-wealthy families, and major corporations. Despite the financial success, the Trump family’s growing involvement in cryptocurrency attracted a lot of scrutiny from members of Congress, who raised questions about the overlap between political influence and business interests. Trump Discloses Major WLFI Income US President Donald Trump himself recently disclosed earning $57.4 million from his involvement with World Liberty Financial. The income was revealed in his 2025 financial disclosure , which was filed with the US Office of Government Ethics on June 13. According to the filing, Trump holds 15.75 billion governance tokens in World Liberty Financial, which also grant him voting rights. While the document does not provide a specific valuation or structure for the tokens, the substantial income figure implies that Trump either sold part of his holdings or that the tokens were valued highly for disclosure purposes. The reported gain is listed as “$57,437,927” and attributed to token sales. Trump’s WLFI earings World Liberty Financial launched in September of 2024 with a focus on decentralized finance and stablecoins, and it raised approximately $550 million through two token sales. The first round brought in $200 million, and a second round in early 2025 raised an additional $250 million. The project positions itself as a challenger to traditional finance and attracted a lot of backing from the crypto industry. In addition to Justin Sun, Web3Port contributed $10 million in January, while Oddiyana Ventures joined as a strategic investor, although the size of its investment was not disclosed. Trump’s digital asset involvement extends beyond World Liberty Financial. While his latest filing does not show new revenue from previous ventures like Trump Digital Trading Cards, it does reflect the still ongoing connections to entities like CIC Digital and CIC Ventures. These companies are tied to his past Web3 and NFT efforts, though they appear to be inactive or generating minimal income at present. The President’s certification on the ethics filing confirms that the information provided is accurate to the best of his knowledge and is now subject to review by the Office of Government Ethics. Truth Social Files for Bitcoin and Ether ETF The Trump-crypto ties deepened after US President Donald Trump’s social media platform, Truth Social, recently filed an S-1 registration with the Securities and Exchange Commission (SEC) to launch a dual exchange-traded fund (ETF) focused on Bitcoin and Ethereum. The proposed fund is named the Truth Social Bitcoin and Ethereum ETF, and will be sponsored by asset manager Yorkville America Digital. A crypto ETF is a fund that allows investors to gain exposure to cryptocurrencies like Bitcoin or Ethereum without directly owning them. It tracks crypto prices and is traded on traditional stock exchanges, which simplifies access and reduces custody risks. Party of Truth Social’s S-1 filing The main goal of Truth Social’s fund is to simplify crypto investment by offering shares backed by BTC and ETH. According to the filing, the digital assets will be held by Crypto.com’s trust arm, Foris DAX Trust Company, serving as the crypto custodian for the ETF. The ETF is intended to be listed on the New York Stock Exchange Arca, though the fund’s ticker and cash custodian details haven not been disclosed yet. Truth Social explained that further details, including its prime execution agreement with Crypto.com, will be included in a later amendment to the filing. This ETF filing was made shortly after the SEC approved Trump Media and Technology Group’s $2.3 billion Bitcoin treasury registration, which followed the company’s $2.5 billion capital raise in May to acquire Bitcoin, despite initially denying such plans. The firm stated that it has no immediate plans to issue securities under the approved deal. Coinciding with Truth Social’s ETF filing, CoinShares also submitted a separate S-1 application on the same day, proposing a Solana spot ETF for US investors. CoinShares already operates a similar Solana ETP in Europe and is now looking to expand its footprint to the US market. With this addition, there are now at least eight Solana spot ETF applications under SEC review, including proposals from Fidelity, Grayscale, Franklin Templeton, 21Shares, Bitwise, VanEck, and Canary Capital. Despite this growing interest, analysts suggest that an approval for a Solana ETF is unlikely in the immediate future.
