The Trump brothers do it again: American Bitcoin listed on the Nasdaq

2025-09-03 14:38:03

American Bitcoin, a bitcoin mining and treasury company backed by President Trump's sons Eric and Donald Jr., listed on the Nasdaq Wednesday morning under the ticker symbol ABTC.

It's the second crypto venture listing for the Trump brothers this week.

"Our Nasdaq debut marks a historic milestone in bringing Bitcoin into the core of U.S. capital markets and advancing our mission to make America the undisputed leader of the global Bitcoin economy," Eric Trump, American Bitcoin’s co-founder and chief strategy officer, said in a press release statement.

First launched as a subsidiary of publicly traded bitcoin mining firm Hut 8 (HUT), American Bitcoin began trading at $6.90 per share through an all-stock merger with Gryphon Digital Mining (GRYP)

American Bitcoin shareholders, including Eric Trump, his brother Donald Trump Jr., and Hut 8, own 98% of the company.

Read more: Can you buy crypto with a credit card? See the pros and cons.

"By combining Bitcoin mining, opportunistic market purchases, and the backing of Hut 8's energy and digital infrastructure, we have created a vehicle designed to drive rapid, efficient Bitcoin-per-share growth," American Bitcoin executive chair and Hut 8 CEO Asher Genoot said in a statement.

Bitcoin (BTC-USD) rose Wednesday morning to $111,500 per coin. It's up 19% year to date and has traded between $108,00 and $123,000 for the past two months.

The listing kicks off the second major event the Trump brothers have headlined this week in bringing crypto to the capital markets.

On Monday, the token for a crypto venture called World Liberty Financial (WLFI-USD), which has ties to Donald Trump's family, listed on crypto exchanges.

The token's price spiked and then fell on major crypto exchanges, a fairly common reaction for small and newer crypto tokens. It's roughly 1% from its initial listing price and is currently the 27th largest cryptocurrency by market capitalization, according to Coinmarketcap.

The listing still brought in over $5 billion in paper gains for the president, his son Baron, as well as Donald Jr. and Eric, who were all named as the project's initial co-founders.

Crypto is "probably the most rewarding venture of my entire life," Eric Trump said over the weekend before a bitcoin conference in Tokyo.

StockStory aims to help individual investors beat the market. David Hollerith covers the financial sector ranging from the country’s biggest banks to regional lenders, private equity firms, and the cryptocurrency space.

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