According to WSJ's report, American Bitcoin, a Bitcoin mining and reserve company supported by two of President Trump's sons, will be listed this Wednesday on the Nasdaq Stock Exchange after completing a merger with Gryphon Digital Mining.

Trump's elder son, Donald Trump Jr., his second son, Eric Trump, and the mining company Hut 8 will collectively own 98% of the shares of the new entity after the merger. The new entity will retain the name American Bitcoin and trade under the stock symbol ABTC.

American Bitcoin has also recently been scouting acquisition targets in Asia to build a Bitcoin asset reserve. The company has begun discussions with investors regarding potential acquisitions and is currently planning to acquire a publicly listed company in Japan, while also considering expanding into the Hong Kong market simultaneously. Sources familiar with the matter stated that the company intends to replicate the MicroStrategy model by establishing a cryptocurrency reserve platform through the acquisition of a listed company.