The two oldest sons of US President Donald Trump, Eric Trump and Donald Trump Junior, support American Bitcoin Corporation, a bitcoin treasury and mining firm that started trading on the Nasdaq stock exchange today. The listing follows the merger of the Trump family’s supported crypto venture with Gryphon Digital Minin.
“Our Nasdaq debut marks a historic milestone in bringing bitcoin into the core of US capital markets,” Eric Trump stated. The Trumps would be among the biggest winners, which highlighted that Eric and Donald Trump Jr., along with crypto company Hut 8 Corporation and a few other investors, collectively own 98 percent of the newly listed company. According to reports, Eric Trump possesses a 9.3 percent stake, while Hut 8 controls 80 percent. American Bitcoin Corp stated it will accumulate Bitcoin using machinery in New York, Alberta, and Texas, supplied by Hut 8 Corp.
Launched in March 2025 by Hut 8, Eric Trump, and Donald Trump Jr, American Bitcoin has pledged to become “the world’s largest, most efficient pure-play bitcoin miner.” The company emerges as the US aims to expedite crypto-related legislation to foster industry growth, as pledged by Donald Trump. Critics of Donald Trump have pointed out the supposed conflict of interest regarding his promotion of the crypto industry, given that his sons hold direct investments in this sector. However, the White House has consistently denied these claims.
Asher Genoot, stated that the company’s operations “had nothing to do with government,” and noted that Eric Trump’s role was “mainly in strategy, such as in relation to bitcoin mining, new site development and treasury strategy.”