Trump Family's American Bitcoin to List on Nasdaq Amid Crypto Empire Expansion

American Bitcoin, backed by the Trump family, will list on Nasdaq next week following a merger with Gryphon Digital Mining. The merger, secured without an initial public offering, will fast-track the venture's access to Wall Street capital. Gryphon Digital Mining shareholders approved the stock-for-stock merger, and the company will implement a 5-for-1 reverse stock split to meet Nasdaq's listing requirements.

American Bitcoin, a Bitcoin miner backed by two of President Donald Trump’s sons, Eric Trump and Donald Trump Jr., is set to list on the Nasdaq through a merger with Gryphon Digital Mining. The merger, which has been approved by Gryphon's shareholders, will be finalized shortly and is expected to increase liquidity and attract more investors to the crypto sector.

The merger, which will not involve an initial public offering (IPO), will allow American Bitcoin to start trading on the Nasdaq in early September under the ticker symbol "ABTC." The company will implement a 5-for-1 reverse stock split to meet Nasdaq's listing requirements. This reverse stock split will reduce the number of outstanding shares from approximately 82.8 million to 16.6 million [2].

The merger will combine Gryphon Digital Mining's innovative Bitcoin mining operations with American Bitcoin's industrial-scale mining and strategic Bitcoin reserve development. The new entity, American Bitcoin, will be majority-owned by Hut 8 Corp., which controls about 80% of American Bitcoin [1]. The merger aims to create a publicly traded Bitcoin asset, providing investors with new ways to access Bitcoin through the stock market.

Asher Genoot, CEO of Hut 8, highlighted the advantages of this all-stock merger over a traditional IPO. He noted that it allows the company to access various financing sources more efficiently and plans to explore investments outside the United States to give a wider range of investors access to publicly traded Bitcoin assets, given the restrictions on some participants purchasing Nasdaq-listed shares [1].

The listing is expected to align with the Trump administration’s push for crypto-related legislation, which aims to support the growth of the industry. However, critics have raised concerns about potential conflicts of interest, given the involvement of the Trump family in the sector. The White House, however, has denied any direct link between the company and the government [1].

The merger is part of a broader strategic shift by Hut 8, which is planning to spin off its Bitcoin mining operations into American Bitcoin. This move aims to position Hut 8 as an energy infrastructure pure-play, allowing it to access cheaper financing by distancing itself from the volatility of Bitcoin mining. Hut 8 has already secured $330 million in non-dilutive capital from Two Prime and Coinbase to finance this expansion [3].

In conclusion, American Bitcoin's Nasdaq listing through the merger with Gryphon Digital Mining is a strategic move that could significantly enhance institutional engagement and liquidity in the crypto sector. It also aligns with broader industry trends and the Trump administration's push for crypto-related legislation. However, it remains to be seen how the market will react to this development and how it will influence investor sentiments.

References:
[1] https://www.cnn.com/2025/08/28/business/american-bitcoin-trump-sons
[2] https://www.nasdaq.com/press-release/gryphon-digital-mining-announces-stockholder-approval-merger-transaction-american
[3] https://www.ainvest.com/news/bitcoin-news-today-hut-8-shifts-bitcoin-miner-energy-powerhouse-1-5-gw-push-2508/