Summary of this article
American Bitcoin debuts on Nasdaq; Trump sons’ stake valued over $1.5 billion.
Eric Trump shifts focus to cryptocurrency, promoting sector clarity internationally.
Trump family holds multiple crypto ventures, including WLFI and Melania Memecoin.
Eric Trump and Donald Trump Jr., the eldest sons of U.S. President Donald Trump, saw their investment in American Bitcoin Corp surge in value as the company debuted on Nasdaq, underscoring the family’s growing presence in the cryptocurrency space.
According to the Reuters report, the shares rose on the first day of trading, which was the Nasdaq debut of American Bitcoin Corp. With roughly 908.6 million shares outstanding, the brother's 20 per cent stake is valued at approximately $1.5 billion at the close, reaching $2.6 billion at the peak price. Asher Genoot, Executive Chairman of American Bitcoin, had earlier confirmed the ownership stake held by the Trump sons.
Hut 8 Corp, a company active in energy infrastructure and bitcoin mining, holds roughly 80 per cent of American Bitcoin.
The venture represents a shift from the Trump family’s traditional focus on real estate and golf businesses. Eric Trump, co-founder and chief strategy officer, told Reuters that cryptocurrency now makes up about 50 per cent of his professional focus. He also highlighted his role in promoting and clarifying the company’s activities, aiming to improve public understanding of the cryptocurrency sector both in the U.S. and internationally.
Given President Trump's regulatory role in the industry, the family’s crypto activities have drawn attention from lawmakers and ethics observers, who raised questions about potential conflicts of interest. Eric Trump stressed that his father is focused on leading the country and is not involved in their commercial operations. He said: “He’s running a nation. He’s not involved in our businesses in any way, shape, or form.”
Eric Trump said that the cryptocurrency sector had a poor public voice, and over the past 12 to 18 months, he has worked to provide clearer communication and representation for the industry.
The stock debut underscores the growing financial impact of the Trump family’s crypto ventures, which now contribute substantially to their portfolio alongside their traditional businesses.
Apart from American Bitcoin, the Trump family is involved in other crypto ventures, including $Trump and Melania Memecoin. Also launched last year, World Liberty Financial (WLFI) counts Donald Trump Jr., Eric Trump, and Barron Trump as co-founders, with President Trump holding the co-founder emeritus title.
WLFI was recently listed on major exchanges. The Trump family owns around 22.5 billion WLFI tokens, with roughly 24.7 billion of the total 100 billion tokens currently in circulation.
