Donald Trump's Ethereum Pile Soars $1M In Value Thanks To Spot ETF Buzz

Republican Presidential candidate Donald Trump's Ethereum ETH/USD  holdings have jumped by $1 million in the last 30 days. 

What Happened: Blockchain intelligence firm Arkham Intelligence has been tracking a crypto wallet purportedly owned by none other than Trump. 

Last reported in October, Trump's ETH holdings contained 1,553 ETH, valued at over $2.7 million at that time. 

Bitcoin BTC/USD, Ethereum ETH/USD have been rallying since the past week with BTC reaching close to $44,000, and ETH hovering around $2,300.  This surge can be attributed to the dropping interest rates and mounting expectations for a spot Bitcoin ETF in the United States.

At the time of writing, data from Arkham Intelligence shows Trump's ETH wallet now holds over $3.7 million in ETH, which means a 37% increase in his portfolio.

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Why It Matters: Despite having ample opportunities to cash in on the recent gains, Trump has held on to his ETH without selling. 

Last year, he launched a non-fungible token (NFT) project called "Trump Digital Collectible Cards," which featured exclusive images of himself. This project gained significant popularity, leading to the release of a second series of collectibles in April, which also quickly sold out.

Photo via Shutterstock

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