There are Bitcoin treasury companies, and there are Ethereum treasury companies. And then, there is the treasury company that Eric Trump just joined – which is setting up to establish a treasury built around the token powering the Trumps’ crypto project before it even begins trading.

Today, ALT5 Sigma announced it would be raising $1.5 billion to establish a treasury strategy to buy World Liberty Financial tokens, and would add Eric Trump to its board, along with World Liberty co-founder Zach Witkoff.

As Coinage has covered, the Trumps are now majority owners in the DeFi project they launched called World Liberty Financial. The project raised more than half a billion dollars via its WLFI token sale — and has since announced the token will soon be tradeable. In an announcement, ALT5 Sigma said it plans to hold approximately 7.5% of the total supply of $WLFI tokens.

The company, which was founded in 2018 and boasts a market cap of around $120 million, has been actively involved in crypto via its payments businesses. The Nasdaq-listed stock traded 6% higher Monday morning after the announcement, before flipping into the red to trade 14% lower in the afternoon.

Trading activity in these publicly traded treasury companies have been sporadic during announcements. Even Sharplink Gaming, the Ethereum treasury company backed by Ethereum co-founder Joe Lubin, saw shares re-trace 90% just weeks after their announcement when they launched earlier this summer.

World Liberty Financial has signaled that its WLFI tokens will begin trading soon, after a community vote approved unlocking them for early backers.