A subsidiary of Dominari Holdings (DOMH), an investment firm with ties to President Donald Trump’s sons Eric and Donald Jr., is partnering with Bitcoin programmability project Hemi to advance its digital asset treasury and exchange-traded fund (ETF) plans.
Broker-dealer Dominari Securities and Hemi Inc., backed by veteran Bitcoin developer Jeff Gerzik, have partnered to develop a digital asset treasury and ETF platform, according to an emailed announcement Friday.
Dominari Holdings is located in New York City’s Trump Tower and counts Eric Trump Jr. and Donald Trump Jr. among its investors. They are also members of the advisory board. In March, the company added another twist to how it introduced Bitcoin. BTC$119,983.12 It will be leveraged as a Treasury asset by committing $2 billion to buy shares in BlackRock’s iShares Bitcoin Trust (IBIT), the market’s largest spot Bitcoin ETF.
The joint venture between Dominari and Hemi will allow institutions to invest in the BTC-centric market via the HEMI token.
As part of the joint venture American Ventures LLC, of which Dominari is a member, it has made an undisclosed investment in the Hemispheres Foundation, the lead manager of the Hemi project.
Hemi’s goal is to transform Bitcoin’s decentralized finance (DeFi) potential by merging it with Ethereum into a single “supernetwork.” The company raised $15 million in funding to expand its ecosystem in August.
Alongside competitors such as Lombard, with its liquid staking token LBTC, and BOB, a hybrid chain built on top of Bitcoin and Ethereum, Hemi is building the infrastructure to increase Bitcoin and DeFi compatibility, leveraging its $2.4 trillion market capitalization to improve the broader digital asset industry.
