American Bitcoin Corporation, a bitcoin treasury and mining company backed by United States President Donald Trump’s two eldest sons — Eric Trump and Donald Trump Junior — has begun trading on the Nasdaq stock market today, AP reported.
The listing comes after the Trump family backed crypto venture merged with Gryphon Digital Mining, as per the AP report.
“Our Nasdaq debut marks a historic milestone in bringing bitcoin into the core of US capital markets,” Eric Trump, co-founder and chief strategy officer of American Bitcoin, said in a statement.
Trump family sees crypto stock zoom
At time of writing, the stock was at $8.96 apiece, up $2.06 or 29.86 per cent since market opened. According to a Bloomberg report, the stock more than doubled to $14.52 in early trading.
The Trumps would be among the biggest winners, as per the BB report, which noted that Eric and Donald Trump Jr and crypto company Hut 8 Corporation along with few other investors, together own 98 per cent of the newly listed company. Eric Trump holds 9.3 per cent stake, while Hut 8 owns 80 per cent, as per a July securities filing, as per reports.
American Bitcoin Corp in a statement said it will accumulate Bitcoin using machinery in New York, Alberta and Texas, provided by Hut 8 Corp.
About American Bitcoin Corp
Launched in March 2025 by Hut 8, Eric Trump and Donald Trump Jr, American Bitcoin has vowed to become “the world’s largest, most efficient pure-play bitcoin miner”, according to a Reuters report.
The company comes as the US seeks to fast-track crypto-related laws to support industry growth as promised by Donald Trump.
Notably, Donald Trump’s critics have called out the alleged conflict of interest in him promoting the crypto industry while his sons have direct holdings in the space, but the White House has continued to deny such accusations, it added.
Asher Genoot, Hut 8’s CEO told Reuters the company’s business “had nothing to do with government”, and Eric Trump’s involvement was “mainly in strategy, such as in relation to bitcoin mining, new site development and treasury strategy”.
(With inputs from Agencies)
