Eric Trump’s bitcoin mining company is going public through a merger, signaling the Trump administration’s shifting stance on cryptocurrency and creating new connections between the First Family and digital finance.

At a Glance

• Eric Trump is taking his bitcoin mining company public via merger with Gryphon Digital Mining, planning to list on Nasdaq as “American Bitcoin” under ticker “ABTC”
• President Trump has evolved from dismissing Bitcoin as a scam to embracing cryptocurrencies through executive orders establishing a Strategic Bitcoin Reserve
• Gryphon’s shares surged 285% following the merger announcement
• The deal is expected to close in the third quarter of 2025
• This makes American Bitcoin the second publicly traded Trump-led company after Trump Media & Technology Group

Trump Family Expands Cryptocurrency Footprint

Eric Trump is taking his bitcoin mining company public through a merger with Gryphon Digital Mining. The resulting company will retain the name American Bitcoin and plans to list on the Nasdaq exchange under the ticker symbol “ABTC.” This strategic move aligns with the broader White House initiatives supporting cryptocurrency development and regulation. American Bitcoin was founded in collaboration with Hut 8, whose CEO Asher Genoot serves on the board, positioning the company within an established network in the cryptocurrency mining sector.

“Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market.”, said Eric Trump.

Market reaction to the announcement has been substantial, with Gryphon’s shares experiencing a remarkable 285% surge following the news. Hut 8 shares also gained 10%, though they remain down 25% for the year overall. The merger creates the second publicly traded Trump-led company, joining Trump Media & Technology Group, which trades under the ticker DJT. The American Bitcoin deal is projected to close in the third quarter of 2025, according to company statements.

White House Cryptocurrency Initiatives

President Donald Trump has demonstrated an evolving position on cryptocurrency. Despite previously dismissing Bitcoin as a scam, the President has increasingly embraced digital assets through both policy and personal ventures. In March, Trump signed an executive order establishing a national Strategic Bitcoin Reserve and a Digital Asset Stockpile, positioning them as financial safety nets for the nation. This represents a significant shift in federal policy toward cryptocurrency integration into mainstream financial structures.

“Taking affirmative steps to centralize ownership, control, and management of these assets within the Federal government will ensure proper oversight, accurate tracking, and a cohesive approach to managing the government’s cryptocurrency holdings … President Donald Trump is fulfilling his promise to position America as the global leader in cryptocurrency.”, according to President Trump’s March executive order.

The President has also backed various cryptocurrency ventures, including the Trump-themed meme coin “TRUMP” and an NFT trading card series. These personal ventures reflect his administration’s broader push for regulatory frameworks that support digital asset growth. The executive order aims to centralize cryptocurrency management within the federal government, establishing clear oversight mechanisms while promoting American leadership in the global cryptocurrency market.

Market Implications and Criticisms

The American Bitcoin IPO comes amid increasing corporate interest in cryptocurrency holdings. Multiple corporations are pursuing ventures to hold bitcoin on their balance sheets, offering investors indirect exposure to cryptocurrency through traditional stock market investments. This approach helps bridge the gap between conventional finance and the cryptocurrency market, potentially broadening the investor base for digital assets.

“Buying a stock is a very familiar investment to way more people than buying crypto on a platform.”, said Allan Marshall.

However, the Trump family’s cryptocurrency ventures have not been without criticism. Conservative commentator Ben Shapiro has raised concerns about the Trump meme coin, particularly regarding an announcement that the top 220 holders would be invited to a private dinner with President Trump.

Shapiro characterized this as potential influence peddling, questioning the ethics of creating financial incentives for access to the President. Despite these criticisms, the administration continues to expand its cryptocurrency initiatives as part of a broader economic strategy.