American Bitcoin Corp. (ABTC) saw a successful market debut, resulting in billions worth of stake for Eric Trump and Donald Trump Jr. ABTC shares surged, doubling in value to reach $14.52 before settling at slightly over $8, valuing the firm at $7.30 billion with the Trump brothers owning nearly 20%.

The subsidiary of Hut 8 Corp., American Bitcoin, went public via a reverse merger with Gryphon Digital Mining. The company already holds 2,443 BTC worth $273 million and generates new BTC through mining. The Trump family continues to expand their presence in the cryptocurrency sector.

American Bitcoin’s listing marks the Trump family’s increasing involvement in the crypto space. Their decentralized finance venture, World Liberty Financial, launched its governance token, WLFI, with a reported $5 billion increase in their paper wealth following the token’s trading debut.

BTC was trading at $110,731, up 0.71% in the last 24 hours. American Bitcoin shares rose 5.10% in after-hours trading, Strategy’s stock exhibited a high Momentum score, showing strong performance in the crypto sector. The Trump family’s wealth has seen significant growth due to their ventures in cryptocurrency.

Read more at Yahoo Finance: Trump Family’s Stake Swells To $1.46 Billion As American Bitcoin Makes Stock Market Debut