NEW YORK – Shares of American Bitcoin Corp, a mining company partially owned by Donald Trump Jr. and Eric Trump, surged in their Nasdaq debut on Wednesday, valuing the brothers’ combined stake at approximately $1.5 billion and underscoring the Trump family’s expanding footprint in the cryptocurrency sector.
The stock (Ticker: ) opened at $14.52 before closing at $8.04, a 16.5% gain from its reference price. Based on the closing price and 908.6 million outstanding shares, the brothers’ reported 20% stake is valued at $1.5 billion. At its intraday high, their holding was worth roughly $2.6 billion.
The successful listing marks a significant financial windfall for the president’s eldest sons and highlights a strategic pivot for the family’s business interests, which have historically been rooted in real estate and hospitality through The Trump Organization.
“Crypto is exploding,” Eric Trump, who holds the title of co-founder and chief strategy officer at American Bitcoin, said in an interview. “I would be saying right now, the crypto space is at least 50% of what I’m doing.” He described his role as akin to a spokesperson, aiming to improve the industry’s public image.
The venture has drawn scrutiny from government ethics watchdogs and Democratic lawmakers, who cite potential conflicts of interest given President Trump’s pro-crypto policy stance and his pledge to be the “crypto president.” Eric Trump dismissed these criticisms as “insane,” asserting his father has “absolutely nothing to do with this venture” and is “not involved in our businesses in any way, shape or form.”
American Bitcoin is one of several recent crypto ventures launched by the Trump family, which also includes World Liberty Financial and the promotion of meme coins. Eric Trump has undertaken an international tour this year to rally support for the industry, traveling to hubs including Dubai, Hong Kong, and Tokyo. The listing solidifies the family’s deep financial stake in the sector’s growth, which is now closely intertwined with the political landscape.