• American Bitcoin Corp. begins trading on the Nasdaq under the ticker "ABTC" after completing a reverse merger with Gryphon Digital Mining.
  • The newly public entity is majority-controlled by Hut 8 and has garnered public backing from Eric Trump and Donald Trump Jr.
  • The listing provides a new regulated equity vehicle for exposure to Bitcoin's performance, combining mining operations with treasury management.

American Bitcoin Corp. commenced trading on the Nasdaq in early September, marking a significant milestone for a company that has quickly become a focal point at the intersection of digital assets, traditional finance, and politics. The public debut was executed via a reverse merger with Gryphon Digital Mining, a transaction that received shareholder approval and was finalized alongside a necessary 5-for-1 reverse stock split to meet the exchange's listing requirements.

The newly listed entity, which retains the American Bitcoin name, is majority-owned by Canadian Bitcoin miner Hut 8, which holds a controlling stake estimated between 80% and 98%. This corporate structure provides a unique public-market investment thesis: direct exposure to Bitcoin's price through a business model that combines active mining with the strategic accumulation and holding of BTC on its balance sheet. The company's leadership has positioned it as a regulated alternative for equity investors seeking Bitcoin exposure without directly holding the cryptocurrency.

The listing arrives amid a wave of institutional interest in crypto and a shifting regulatory landscape that includes supportive signals like the pending GENIUS Act. However, the company's profile is undoubtedly heightened by its political connections. Eric Trump and Donald Trump Jr. are public backers of the venture, a detail that has thrust ABTC into the center of debates concerning political involvement in digital asset markets and potential regulatory favoritism.

Pre-merger, Gryphon's share price experienced notable volatility, initially rallying on news of the deal before falling approximately 10% immediately following the shareholder vote that approved the transaction. Hut 8, which effectively controls the venture, recently reported strong quarterly earnings with a net income of $137 million for Q2 2025, though separate financials for the newly combined ABTC are not yet available.

Attempts to reach representatives from American Bitcoin Corp. for additional comment on the first day of trading were not immediately successful. The debut sets a new precedent for how crypto-native companies, particularly those with hybrid mining and treasury models, can access public capital markets, often favoring reverse mergers over traditional initial public offerings. Market analysts will be watching the ticker ABTC closely, not only as a barometer for Bitcoin sentiment but also as a case study in the evolving relationship between political capital and cryptocurrency innovation.