By Ateev Bhandari
(Reuters) – American Bitcoin, a new Bitcoin miner supported by US President Donald Trump’s two eldest sons, said it will list it on the Nasdaq on Monday through a full stock merger with Griffon Digital Mining.
Existing American Bitcoin shareholders, including co-founder Eric Trump, his brother Donald Trump Jr. and Crypto Minor Hat8, will retain 98% of the ownership of the newly established entity.
The move is the latest in a series of Crypto ventures by the Trump family, including Memecoin, which was launched in January and World Liberty Financial, a crypto company partially owned by the president.
President Trump has pledged to make the United States a global leader in the crypto sector, and has promised a lighter regulatory touch. However, he elicited criticism over a potential conflict of interest from government ethics experts and political opponents.
Griffon’s shares rose more than three times to $2.19, while Hat eight shares exceeded 11% to $15.45. The transaction is expected to close in the third quarter of 2025.
American Bitcoin, released in March, will hold Eric Trump as Chief Strategy Officer.
“Our vision for Bitcoin in America is to create the most investable Bitcoin accumulation platform on the market,” he said in a statement.
Over the past few weeks, several companies have attacked transactions to launch new ventures or become entities that accumulate Bitcoin on their balance sheets.
These ventures have made investors more popular among retailers, an approach pioneered by strategy in 2020.
“Buying stocks to more people than buying Crypto on the platform is a very familiar investment,” said Allan Marshall, CEO of e-Commerce Platform, in an interview last week.
Upexi’s shares have risen more than four times since it announced plans to hold Solana as a financial asset last month.
(Reporting by Ateev Bhandari and Niket Nishant of Bengaluru, edited by Vijay Kishore)