TLDRs;
Contents
- American Bitcoin, backed by Eric and Donald Trump Jr., will trade on Nasdaq as ABTC after merging with Gryphon.
- Hut 8, which owns 80% of American Bitcoin, confirmed the deal will close soon with anchor shareholders secured.
- Reverse mergers are becoming a preferred strategy for crypto firms seeking faster public listings and easier financing.
- Political support and record bitcoin prices are driving a surge in U.S. crypto mergers, funding, and market expansion.
American Bitcoin, a bitcoin mining company backed by Eric Trump and Donald Trump Jr., is preparing to make its Wall Street debut through a strategic merger with Gryphon Digital Mining.
The move will see the firm bypass a traditional initial public offering (IPO) in favor of a reverse merger, a route increasingly favored by crypto firms seeking faster access to capital markets.
Hut 8 to hold majority stake
Canadian mining company Hut 8, which already owns 80% of American Bitcoin, confirmed that the all-stock merger is expected to close in the coming weeks.
Once finalized, the merged entity will begin trading on the Nasdaq under the ticker symbol ABTC, with a targeted launch in early September.
Eric Trump, Donald Trump Jr., and Hut 8 will collectively own approximately 98% of the company. Anchor investors have already been secured, according to Hut 8 CEO Asher Genoot, helping ensure a stable launch.
Reverse mergers gain popularity in crypto
American Bitcoin’s choice of a reverse merger over a traditional IPO underscores a growing trend in the crypto sector.
By merging with Gryphon Digital Mining, an existing public entity with Nasdaq access, the company can skip months or even years of regulatory filings and approval processes. Instead, it gains immediate entry into public markets along with established financing channels.
Recent data highlights the momentum behind such strategies: the United States recorded 93 crypto mergers and acquisitions in 2024, worth a combined $4.1 billion, a 2.5-fold increase compared to the prior year.
Political momentum boosts crypto growth
The Trump family’s involvement in American Bitcoin highlights how politics and crypto are increasingly intertwined. Since Donald Trump’s election victory, Bitcoin has surged to record highs, briefly topping $109,000 in January 2025. Meanwhile, the broader crypto market has reached a market capitalization of $3.4 trillion, peaking at $3.8 trillion in December 2024.
This momentum has been matched by a friendlier regulatory climate. Congress has advanced the GENIUS Act, legislation designed to establish federal standards for stablecoins and provide clarity for institutional investors. The result has been a revival in funding, with crypto startups raising nearly $4.9 billion in the first quarter of 2025 alone, the highest in over two years.
Major players are seizing this opportunity through mergers and acquisitions rather than relying on organic growth. Notable examples include Ripple’s $250 million acquisition of custody provider Metaco and its $1.2 billion purchase of trading firm Hidden Road. For American Bitcoin, the Gryphon merger marks a similar push to expand influence and capitalize on current market conditions.
What’s next for American Bitcoin
Once trading begins under the ticker ABTC, the merged company is expected to position itself as a major competitor in the bitcoin mining industry. With Hut 8’s established operations, Gryphon’s market access, and the Trump family’s political ties, analysts say the company could become one of the most closely watched crypto stocks of 2025.
Whether American Bitcoin can sustain momentum will depend on bitcoin price trends, regulatory stability, and the broader appetite of institutional investors. But the merger sets the stage for another high-profile crypto listing in a year already defined by dealmaking and political backing for digital assets.
