Trump-Backed Bitcoin Company American Bitcoin Begins Trading on Nasdaq

American Bitcoin, a bitcoin treasury and mining company backed by members of former President Donald Trump's family, began trading on the Nasdaq stock market Wednesday after completing a merger with Gryphon Digital Mining.

The company, which is backed by Trump sons Donald Trump Jr. and Eric Trump, said the listing was a milestone for the firm as it moves to blend mining operations with corporate bitcoin accumulation. Eric Trump, a co-founder and the company's chief strategy officer, said in a statement, “Our Nasdaq debut marks a historic milestone in bringing bitcoin into the core of U.S. capital markets.”

American Bitcoin said it plans to rely on what it described as “self-mining operations and opportunistic bitcoin purchases” as it seeks to distinguish itself in an expanding field of publicly traded crypto businesses. The move comes amid a broader trend of U.S. companies adding bitcoin to their corporate treasuries, a strategy that has gained popularity as the world's largest cryptocurrency trades near record highs.

The Nasdaq debut adds another vehicle for investors seeking exposure to Trump-associated cryptocurrency ventures. The Trump family has shifted significant attention and resources from traditional real estate into crypto-related projects over the past year, launching initiatives that include a U.S. dollar–backed stablecoin and a meme coin promoted by the president. Earlier in the week, World Liberty Financial, a separate Trump-family–backed project, began public trading of its tokens.

Those projects and others tied to the Trumps have propelled the paper value of the family's crypto holdings into the billions, according to industry observers and the firms' disclosures. Critics in the Democratic Party have accused the president of monetizing his political popularity by promoting crypto offerings while supporting pro-crypto legislation and regulatory changes. The president has denied any improper conflicts of interest.

American Bitcoin's listing follows regulatory and market scrutiny of crypto-linked public companies and special-purpose acquisition vehicles, as investors weigh the risks of volatile digital assets and the costs of mining operations. The company did not disclose detailed financial projections in its initial statement accompanying the listing, but emphasized a combined strategy of mining and opportunistic purchases to build its bitcoin holdings.

The firm's Nasdaq appearance also coincides with moves by other companies connected to the Trump business ecosystem to increase exposure to bitcoin. The parent company of the Trump-branded social media service has said it is accumulating bitcoin as part of its corporate strategy, reflecting a broader embrace of the asset class among certain corporate issuers.

Market analysts say the proliferation of publicly traded firms with bitcoin-centered business models gives investors more direct ways to gain exposure to the cryptocurrency without buying it outright. They caution, however, that such investments remain tied to bitcoin's price swings as well as operational risks tied to mining, energy costs and regulatory developments.

American Bitcoin did not immediately respond to requests for further comment beyond its initial announcement. The company completed its merger with Gryphon Digital Mining ahead of the Nasdaq listing, a step company executives characterized as positioning American Bitcoin to be both a miner and a corporate holder of bitcoin on behalf of shareholders.