Donald Trump's executive order to create a strategic Bitcoin reserve is stalled. While the U.S. government has increased its Bitcoin holdings to about $29 billion, legal issues are complicating the establishment of the reserve. A White House staffer noted ongoing discussions about the necessary legal frameworks.

American Bitcoin, co-owned by Eric and Donald Trump Jr., experienced a nearly 17% increase in stock price during its Nasdaq debut, reaching $8.04 per share. The company combines Bitcoin mining and market purchases, leveraging significant assets to enhance its growth potential.

Donald Trump's Truth Social has filed with the SEC to introduce a "Crypto Blue Chip" ETF, which will include major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cronos (CRO). This move follows a partnership with Crypto.com and Yorkville America Digital to promote American-made digital asset ETFs, amid a shift towards a more crypto-friendly regulatory environment.

President Trump has expressed his support for the Bitcoin bill introduced by Senator Cynthia Lummis, which aims to provide a regulatory framework for cryptocurrency. This endorsement could significantly impact the legislative landscape surrounding digital currencies in the United States, potentially encouraging further adoption and investment in Bitcoin.

Bitcoin reached a record price of $124,480, continuing its summer rally, driven by an influx of companies investing in the cryptocurrency and supportive policies from the Trump administration. The digital asset has surged 30% in value this year, propelled by the opening of US retirement plans to crypto investments and the rise of "bitcoin treasury" companies.

Trump Media and Technology Group has filed with the SEC to launch a dual Bitcoin and Ethereum ETF, allocating 75% of its assets to Bitcoin and 25% to Ethereum. Crypto.com will serve as the custodian and liquidity provider for the ETF, which reflects the Trump family's ongoing interest in cryptocurrency, particularly Ethereum. If approved, this fund would join a growing number of crypto ETFs in the market.