American Bitcoin, a bitcoin mining and treasury company backed by President Donald Trump’s sons Eric and Donald Jr., made its public debut Wednesday morning on the Nasdaq under the ticker symbol ABTC, becoming the latest high-profile crypto venture tied to the Trump family.
It’s the second crypto-related listing for the Trump brothers in just a week, underscoring their growing influence in the digital-asset space. “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.
American Bitcoin was initially launched as a subsidiary of publicly traded mining firm Hut 8 (HUT) and began trading at $6.90 a share following an all-stock merger with Gryphon Digital Mining (GRYP). In early trading, the stock surged as much as 90% before settling back. By 11 a.m. in New York, it remained up more than 40%, trading at $9.35. According to the Wall Street Journal, shareholders including Eric Trump, Donald Trump Jr., and Hut 8 collectively control 98% of the new company.
The venture combines bitcoin mining, opportunistic market purchases, and Hut 8’s digital infrastructure to drive growth, according to American Bitcoin Executive Chair and Hut 8 CEO Asher Genoot. “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,” Genoot said in a statement.
The listing comes as bitcoin (BTC-USD) itself traded at about $111,500 per coin Wednesday morning, up 19% year-to-date and hovering between $108,000 and $123,000 over the past two months.
This week’s Nasdaq debut is just one part of a broader Trump-family push into crypto markets. On Monday, a token for a separate venture — World Liberty Financial (WLFI-USD), which has ties to the Trump family — listed on major cryptocurrency exchanges. The token initially spiked and then fell, a common pattern for new digital assets. It slipped about 5% Wednesday but still ranks as the 27th largest cryptocurrency by market capitalization, according to CoinMarketCap.
President Trump, his sons Donald Jr. and Eric, and his youngest son Barron were all listed as initial co-founders of World Liberty Financial, though Trump himself stepped back from the role after taking office, according to the project’s website. In exchange for promotion, the Trump family — including the president — controls just under a quarter of all World Liberty tokens (22.5 billion) through a shell company known as DT Marks DeFi LLC. At current market prices, those holdings are worth an estimated $4.8 billion, making World Liberty tokens one of the family’s most valuable crypto assets. The shell company also collects a substantial share of trading revenue, receiving “75 percent of $WLFI token sale proceeds after deduction of agreed reserves, expenses and other amounts,” according to the project’s initial plan document. Other executives, including CEO Zack Witkoff — the son of Trump’s Middle East envoy Steve Witkoff — also share in those proceeds.
The Trump family’s financial ties to the crypto sector now span multiple projects, from World Liberty tokens to the president’s official meme coin (TRUMP) and various partnerships tied to his namesake media company, Trump Media & Technology Group (DJT). That growing web of ventures has drawn intense scrutiny from regulators, investors, and political opponents alike.
For Eric Trump, however, the stakes are clear. Speaking at a bitcoin conference in Hong Kong last week, he called crypto “probably the most rewarding venture of my entire life,” underscoring how deeply the Trump family has become embedded in the digital-asset economy just as American Bitcoin makes its high-profile Wall Street debut.
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