American Bitcoin has locked in crypto and traditional investors to back an all-stock merger that will allow the firm to start trading on the Nasdaq.
Following this announcement, the unlisted firm's merger with Gryphon Digital Mining is expected to be finalised shortly, and the goal is to start trading in early September 2025, according to the firm’s largest investor.
In addition, it was also mentioned that the shareholders in the listing have been finalised, adding that crypto exchange Gemini's co-founders had invested in the new firm. According to Reuters, American Bitcoin's co-founder, Eric Trump, his brother Donald Trump Jr, and Hut 8, are set to own a combined 98% of the newly formed entity, which will retain the name American Bitcoin and trade under the stock code ABTC.
More information on American Bitcoin’s initiative to start trading in September
It was also mentioned that American Bitcoin could take stakes in companies outside the region of the US, a process that aims to give people access to publicly listed bitcoin assets, as some investors were prevented from buying Nasdaq-listed stocks. At the same time, the new firm is set to accumulate the cryptocurrency through both mining and buying, as it was developed during a time when the US accelerated crypto-related legislation to support the growth of the industry under President Donald Trump.
Furthermore, Hut8, which was also a crypto miner but has shifted its focus to energy infrastructure and data centers after launching American Bitcoin, will also lease data centers to the firm.
The announcement comes after the Trump-linked Bitcoin firm was set to go public via a Gryphon merger back in May 2025, as representatives from American Bitcoin were listed as part of the management team, and existing shareholders were expected to retain a significant majority stake following the merger.
