The first public trading of American Bitcoin (ABTC) shares on the Nasdaq delivered both explosive excitement and dramatic volatility on Wednesday. The firm, backed by Eric Trump and Donald Trump Jr., marked one of the most striking debuts of the year.

Rocket Start and Sharp Drop

Right after the market opened, ABTC shares surged from $7.59 to $13.93, a gain of more than 83% within minutes. However, the initial enthusiasm quickly cooled as the stock dropped back to $9.26. Still, the company closed the day with a solid 34% gain.

The extreme swings triggered seven separate trading halts on Nasdaq to stabilize the market.

Trump’s Footprint in the Crypto Industry

Just before its debut, the company filed with the SEC to sell up to $2.1 billion worth of Class A common stock. The proceeds are earmarked for Bitcoin purchases and further expansion of mining equipment.

American Bitcoin was formed earlier this year when the Trump brothers merged their family venture with Canadian mining giant Hut 8, which retained an 80% stake, followed by a merger with Gryphon Digital Mining, a company that was already publicly traded.

The firm now operates as both a Bitcoin treasury company and an active mining operation, holding 2,443 BTC worth approximately $273.7 million.

Politics and Crypto Intertwined

The debut comes at a time when crypto firms benefit from a pro-business regulatory climate shaped by the Trump administration.

Meanwhile, other Trump allies are also stepping up their influence. This week, Tyler and Cameron Winklevoss filed for their exchange Gemini to go public, targeting a valuation of $2.3 billion.

If ventures like these succeed, it could mark a new wave of U.S. dominance in digital assets—this time directly tied to both political and business circles surrounding the Trump family.


#TRUMP , #bitcoin , #CryptoMining , #WallStreet , #NASDAQ

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