“American Bitcoin” Set to launch on NASDAQ Following Merger, Backed by Trump Sons
HONG KONG, August 28, 2025 – A new cryptocurrency venture, “american Bitcoin,” is poised to begin trading on teh NASDAQ exchange in early September following a merger with Gryphon Digital Mining (Cryp.o). The company, heavily supported by Donald Trump Jr. and Eric Trump, has secured backing from both cryptographic and conventional investors.
Asher Genoot, Director General of Hut 8 (HUT.O), which holds an 80% stake in American Bitcoin, confirmed that anchor shareholders have already been finalized. The new entity, retaining the “American Bitcoin” name and trading under the ticker symbol ABTC, will see the Trump brothers and Hut 8 collectively holding 98% ownership.
“Instead of entering the IPO directly via an IPO, we thought there were much more advantages for funding if we had an existing company that already had access to various funding also,” Genoot explained during an interview at the Crypto Asia conference in Hong Kong.
The strategic move to merge with an already publicly accessible company streamlines the funding process and provides a faster route to market. Eric Trump is currently in Hong Kong and scheduled to travel to Tokyo this weekend for an event hosted by metaplanet, a Japanese Bitcoin company, further signaling the company’s global ambitions.
American Bitcoin is actively exploring opportunities to acquire cryptographic assets in both Hong Kong and Japan, aiming to expand its international footprint. Genoot indicated the company is considering investments in companies outside the United States to broaden access to Bitcoin-listed assets,particularly for investors facing restrictions on NASDAQ-listed shares.
“For the moment,it is indeed very early. So we have made no commitment,” Genoot clarified, emphasizing that thes are preliminary explorations.
the formation of American Bitcoin marks a notable shift for Hut 8, which previously focused on cryptocurrency mining. The company has since pivoted towards energy infrastructure and data centers following its collaboration with the Trump organization.This progress underscores the growing intersection of traditional finance, political influence, and the rapidly evolving cryptocurrency landscape. The launch of American Bitcoin on the NASDAQ will be closely watched by investors and industry observers alike.
