American Bitcoin Backed by Trump's Sons to Get Listed on Nasdaq

• Crypto adoption has entered a new phase with politics officially becoming a part of it.

• American Bitcoin, backed by Trump's sons, is set for a Nasdaq listing after securing investors.

  
  

American Bitcoin, a mining company co-founded by Eric Trump and Donald Trump Jr., is preparing to debut on the Nasdaq. This is after securing a merger deal and anchor investors. The move signals a bold new chapter in the intersection of politics, finance, and cryptocurrency.

American Bitcoin, backed by Trump’s sons, has struck an all-stock merger with Gryphon Digital Mining. The move paves the way for the company to start trading on the Nasdaq under the ticker ABTC as early as September, according to Asher Genoot, CEO of Hut 8 — the firm’s largest investor.

Hut 8, a well-established player in the digital asset infrastructure space, currently holds approximately 80% of the American Bitcoin market share. With the merger finalization in progress, Genoot confirmed that anchor shareholders are already secured, a critical step toward a successful market entry.

American Bitcoin, Backed by Trump's Son's to get Nasdaq Listing

Upon completion of the merger, the combined entity will retain the American Bitcoin name. Ownership will remain concentrated, with Eric Trump, Donald Trump Jr., and Hut 8 collectively controlling 98% of the new company. This dominant stake demonstrates not only the Trump family’s commitment to the project but also Hut 8’s long-term strategic pivot from pure bitcoin mining to broader energy infrastructure and data centers.

“Instead of going public directly via IPO, we thought that there were more advantages to financing through an existing company that already had access to different financing,” Genoot told Reuters during an interview at the Crypto Asia conference in Hong Kong.

Global Expansion Plans in Asia

American Bitcoin’s ambitions are not limited to U.S. markets. According to Genoot, the company is actively scouting opportunities in Hong Kong and Japan to acquire crypto-related assets. This expansion drive is part of a broader effort to provide international investors with access to publicly listed companies related to bitcoin, particularly in regions where purchasing Nasdaq-listed stocks is difficult or restricted.

Eric Trump has also been spotted at key crypto events in Asia. He is expected to travel to Tokyo for an event with Metaplanet, a Japanese bitcoin treasury firm, underscoring American Bitcoin’s interest in positioning itself as a global player.

While Genoot admitted that the company has not committed to any acquisitions yet, he highlighted that the team is open to taking strategic stakes outside the U.S., reinforcing their aim to bridge American markets with international adoption of bitcoin.

Crypto, Politics, and Market Timing

The move to list American Bitcoin comes at a time of heightened scrutiny of crypto markets, alongside renewed interest from institutional and retail investors. The timing is also significant: Bitcoin prices remain volatile, but institutional demand continues to grow, driven by the introduction of spot Bitcoin ETFs in the U.S. and Asia’s growing crypto treasury movements.

Moreover, the Trump family’s visible involvement could spark political debate. Crypto policy has already emerged as a significant issue in the 2024 U.S. election cycle, with digital assets often caught between advocates pushing for innovation and regulators tightening oversight. The Trump sons’ alignment with American Bitcoin adds another layer of political complexity to the company’s public narrative.

Hut 8’s Strategic Pivot

Hut 8, formerly a bitcoin mining firm, has been shifting its focus increasingly to energy infrastructure and data centers. By backing American Bitcoin, the company diversifies into a vehicle that combines crypto mining with public market exposure.

This pivot reflects a broader trend in the mining industry, where companies are adapting to rising energy costs, regulatory pressures, and the need to diversify beyond mining revenues. By leveraging American Bitcoin’s Nasdaq debut, Hut 8 positions itself at the intersection of traditional finance, energy infrastructure, and the growing digital asset ecosystem.

What It Means for Investors

If successful, American Bitcoin’s Nasdaq listing could represent one of the most high-profile debuts of a bitcoin miner in recent years. Investors may be drawn to:

Political capital: Backing from the Trump family could attract supporters and retail investors aligned with their brand.

Institutional weight: With Hut 8 holding a controlling stake, American Bitcoin benefits from an experienced operator in the energy and digital asset infrastructure sectors.

Global reach: Expansion into Asia could make the firm one of the few truly international bitcoin miners with access to both U.S. and Asian markets.

However, risks remain. Mining profitability is closely tied to bitcoin price cycles, energy market dynamics, and shifting regulatory frameworks. Concentrated ownership by the Trump family and Hut 8 also raises questions about the independence of governance and decision-making.

Conclusion

American Bitcoin’s journey to the Nasdaq underscores the growing entanglement of cryptocurrency, global finance, and political influence. Backed by Donald Trump’s sons and Hut 8, the company is setting itself up not only as a bitcoin miner but also as a potential global player in the digital asset space.

Whether this bold step turns into a political and financial win will depend on market reception, regulatory landscapes, and the company’s ability to scale internationally. However, one thing is clear: American Bitcoin’s debut under the ticker ABTC will be closely watched by both Wall Street and the global crypto community.