American Bitcoin Secures Nasdaq Listing Backed by Trump Sons and Winklevoss Twins

Bitcoin mining company American Bitcoin, which counts two sons of President Donald Trump among its co-founders, is set to trade on the Nasdaq following an all-stock merger with Gryphon Digital Mining. The deal, slated for completion shortly, aims for trading to commence in early September.

Hut 8, which holds an 80% stake in American Bitcoin, has confirmed anchor investors for the listing, including co-founders Tyler and Cameron Winklevoss of crypto exchange Gemini. However, Gemini did not immediately respond to requests for comment from Reuters.

Upon completion of the merger, Eric Trump, his brother Donald Trump Jr., and Hut 8 will collectively own 98% of the newly formed entity. The company will retain its name, American Bitcoin, and trade under the stock symbol ABTC.

In an interview at the Bitcoin Asia conference in Hong Kong, Asher Genoot, CEO of Hut 8, explained that instead of pursuing an initial public offering (IPO), American Bitcoin opted for a strategy offering more advantages in terms of financing through an existing company with access to multiple financing options.

Genoot further mentioned the possibility of American Bitcoin acquiring stakes in companies outside the U.S., allowing investors access to publicly listed bitcoin assets, given that some were previously restricted from buying Nasdaq-listed stocks. However, he noted that no commitments have been made as of yet.

Launched in March 2025, American Bitcoin’s creation comes at a time when the Trump administration is advancing crypto-related legislation to foster industry growth. Genoot assured that the new firm will acquire cryptocurrency through both mining and purchasing, with Hut 8 leasing data centers to American Bitcoin.

President Donald Trump’s critics have raised concerns regarding potential conflicts of interest in his promotion of the crypto sector while his family is involved in it; however, these allegations have been dismissed by the White House. Genoot emphasized that American Bitcoin’s operations are separate from government affairs, with Eric Trump primarily contributing to strategy-related aspects such as bitcoin mining, new site development, and treasury strategy.