Trump Family's 'American Bitcoin' to List on NASDAQ

Mining Company with Son's Participation, Plans NASDAQ Listing After Merging with Gryphon

Potential for Huge Profits with 98% Stake Retention in New Entity

The cryptocurrency business of the sons of former U.S. President Trump is expanding rapidly. Despite growing criticism in the U.S. regarding the family's use of cryptocurrencies for profit, they seem unfazed.

According to Reuters on the 12th (local time), American Bitcoin, a new Bitcoin mining company involving Trump's two sons, will list on NASDAQ through a full stock merger with Gryphon Digital Mining, a NASDAQ-listed mining company.

American Bitcoin's co-founders, Eric Trump and his brother Donald Trump Jr., along with existing shareholders including mining company Hut 8, will retain 98% of the new entity's shares. Consequently, Trump's two sons are expected to make substantial profits upon listing.

In January, the Trump family also launched the Trump Meme Coin, centered around World Liberty Financial, a cryptocurrency company partially owned by former President Trump, attracting investors and expanding their cryptocurrency business.

As the President's family accumulates wealth through cryptocurrency ventures, ethical experts within the U.S. government and the Democratic Party are raising concerns about potential conflicts of interest for public officials. The Trump family claims there is no issue.

Gryphon's stock price has more than tripled to $2.19, and Hut 8's stock price has risen over 11% to $15.45. The acquisition is expected to be completed in the third quarter of 2025.

American Bitcoin, established in March, plans to retain Eric Trump as Chief Strategy Officer. He stated in a press release, "Our vision for American Bitcoin is to create the most accessible Bitcoin accumulation platform in the market."

Recently, some companies have added Bitcoin accumulation to their balance sheets. This approach, pioneered by MicroStrategy, allows investors to gain exposure to crypto assets without directly owning crypto tokens.

Alan Marshall, CEO of e-commerce platform Upexi, noted, "Buying stocks is a much more familiar investment method than buying cryptocurrencies on the platform."

Jung-a Kim, Guest Reporter kja@hankyung.com