A subsidiary of Dominari Holdings (DOMH), the 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.
Brokerage Dominari Securities and Hemi, backed by veteran Bitcoin developer Jeff Garzik, have teamed up to develop a digital asset and ETF treasury platform, according to an emailed announcement Friday.
Dominari Holdings is located in Trump Tower in New York and counts Eric and Donald Trump Jr. among its investors. They also serve on its advisory board. In March, the company took a different approach to the method of Bitcoin adoption. as a treasury asset, committing $2 billion to purchase shares of BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF on the market.
The joint venture between Dominari and Hemi will allow institutions to invest in BTC-centric markets via the HEMI token.
As part of the joint venture American Ventures LLC, of which Dominari is a member, made an undisclosed investment in the Hemispheres Foundation, the lead managers of the Hemi project.
Hemi’s goal is to transform the possibilities of decentralized finance (DeFi) on Bitcoin by unifying it with Ethereum into a single “supernetwork”. It raised $15 million in funding to expand its ecosystem in August.
Alongside competitors like Lombard, with liquid staking token LBTC, and BOB, a hybrid chain built on Bitcoin and Ethereum, Hemi is building infrastructure to make Bitcoin more compatible with DeFi, leveraging its $2.4 trillion market cap for the betterment of the broader digital assets sector.
