Bitcoin News Today: "Trump Backing Fuels Bitcoin Play as New Nasdaq Vehicle Surges 91%"

American Bitcoin Corp. (ABTC) has experienced a significant price surge, hitting its third consecutive circuit breaker on the Nasdaq following its debut on the exchange. The stock has surged by 91% since its listing, marking a strong start for the institutional-grade Bitcoin accumulation platform. The company went public through a stock-for-stock merger with Gryphon Digital Mining, creating a vehicle for institutional and retail investors to gain exposure to Bitcoin without directly holding the cryptocurrency. According to the company’s official press release, American Bitcoin aims to drive Bitcoin-per-share growth by leveraging both Bitcoin mining operations and strategic accumulation strategies [2].

The listing follows a strategic partnership with Hut 8, a major Bitcoin miner, which provides American Bitcoin access to advanced ASICs and colocation infrastructure. This collaboration reduces the need for American Bitcoin to invest heavily in proprietary data centers, allowing it to focus capital on scaling Bitcoin reserves. Hut 8, which holds 80% of American Bitcoin, will continue to supply infrastructure support and will also expand its data center business for AI hosting [2].

The company was founded with significant backing from Eric Trump and Donald Trump Jr., who, alongside Hut 8, own a combined 98% of the newly formed entity. Eric Trump has been vocal about the long-term potential of Bitcoin, recently predicting at the Bitcoin Asia conference in Hong Kong that the cryptocurrency could reach $1 million within several years. While Bitcoin currently trades around $110,000—well below that forecast—Eric Trump attributed the upward trend to increasing institutional adoption and limited supply [5].

The Nasdaq listing was accelerated by an all-stock merger with Gryphon Digital Mining, which allowed American Bitcoin to secure $220 million in private stock sales and quickly enter the public market. The company’s business model is structured to operate with both Bitcoin mining and opportunistic market purchases, creating a flexible strategy for capital efficiency. Eric Trump emphasized the company’s role as a public vehicle for investors, stating that American Bitcoin aims to become a standard in the Bitcoin accumulation space [3].

Analysts have noted the growing influence of the Trump family in the cryptocurrency sector, with several ventures in Bitcoin mining, stablecoins, and digital asset ETFs. Critics have raised concerns about potential conflicts of interest given the family’s involvement in promoting crypto-friendly policies under the Trump administration. However, American Bitcoin’s CEO, Asher Genoot, has stated that the company’s operations are independent of government influence and are driven by strategic and financial considerations [4]. The company’s Nasdaq debut represents a major milestone for the U.S. capital markets, as it introduces a new avenue for institutional investment in the Bitcoin ecosystem.

Source: [1] title1 (https://finance.yahoo.com/news/american-bitcoin-debuts-nasdaq-gryphon-125159577.html) [2] title2 (https://www.prnewswire.com/news-releases/american-bitcoin-debuts-on-nasdaq-as-abtc-302544577.html) [3] title3 (https://fortune.com/crypto/2025/09/03/american-bitcoin-nasdaq-trading-eric-donald-trump-jr-hut-8/) [4] title4 (https://www.cnn.com/2025/08/28/business/american-bitcoin-trump-sons) [5] title5 (https://www.reuters.com/world/asia-pacific/eric-trump-sees-bitcoin-hitting-1-million-praises-china-cryptocurrency-role-2025-08-29/)