American Bitcoin prepares to trade on Nasdaq with Trump family backing

American Bitcoin, based in the United States, has secured commitments from both crypto and traditional investors to support its merger with Gryphon Digital Mining. This all-stock merger is expected to be finalized soon, with trading on the Nasdaq planned for early September 2025. Asher Genoot, CEO of Hut 8, which owns 80% of American Bitcoin, emphasized the advantages of merging with an existing company rather than pursuing an initial public offering (IPO). The major shareholders include Eric Trump and Donald Trump Jr., who collectively will hold a significant portion of the new entity. This strategic move is being framed as a way to enhance access to financing and offer investors additional opportunities in the crypto market. Furthermore, American Bitcoin will explore investments in international companies to enable access to publicly listed bitcoin assets, catering to a broader range of investors who may face restrictions buying stocks on the Nasdaq. The creation of American Bitcoin coincides with a period of increasing legislative support for the cryptocurrency industry from the Trump administration, despite facing criticism over potential conflicts of interest due to the Trump family's involvement in the sector. Genoot has stated that the operations of American Bitcoin are independent of the government, with Eric Trump focusing on strategic aspects related to mining and company operations.