American Bitcoin, the mining and accumulation company co-founded by Eric Trump and Donald Trump Jr., saw its share price fall sharply on Tuesday after early investors gained the ability to sell their holdings for the first time.
Google Finance data showed the stock dropping almost 50 percent within the first hour of trading, sliding from Monday’s close of 3.58 dollars to an intraday low of 1.80 dollars. The volatility continued through the session, and the stock ultimately finished at 2.19 dollars, marking a daily loss of nearly 39 percent.
Eric Trump addressed the selloff on X, noting that the expiration of the pre-merger private placement lockup was expected to create turbulence.
“These early investors are freely available to cash in on their profits for the first time, which is why we will see volatility,” he wrote.
He also said he is holding his own shares, adding that he believes the company’s fundamentals remain strong. American Bitcoin began trading on Nasdaq in September after merging with Gryphon Digital Mining.
The company recently reported solid third-quarter results. Revenue climbed to 64.2 million dollars from 11.6 million dollars a year earlier, while net income improved to 3.5 million dollars after a loss in the same period last year. CEO Michael Ho highlighted gains in mining capacity, revenue, and gross margin, noting that the firm continues to build its bitcoin reserves. As of mid-November, American Bitcoin held about 4,090 BTC, including assets kept in custody or pledged toward equipment purchases.
Despite these financial improvements, ABTC shares have been sliding for months. The stock has fallen more than 76 percent since reaching a high of 9.31 dollars in September.
The downturn aligns with a broader pullback across crypto-related stocks. Coinbase has dropped 20 percent over the past month, stablecoin issuer Circle is down 39 percent, and Gemini has fallen 47 percent in the same period. Analysts say upcoming equity unlocks could add more uncertainty. Brian Dobson of Clear Street told Bloomberg that additional ABTC lockup expirations are scheduled for 2026, urging investors to track those dates closely.
