Eric Trump Unveils Sovereign Wealth Fund Bitcoin Surge: American Bitcoin and Institutional Demand Drive Market Toward All-Time Highs

Eric Trump, Chief Strategy Officer of American Bitcoin and son of former President Donald Trump, announced significant expansion plans in the Bitcoin mining sector during Consensus 2025. American Bitcoin aims to become a leading mining operator with low-cost production, strategically positioning itself to surpass MicroStrategy’s current Bitcoin holdings. More recently, Trump highlighted an accelerating trend of sovereign wealth funds and large institutional investors accumulating Bitcoin, describing an unprecedented ’race to the top’ in Bitcoin accumulation and positioning it as ’digital gold’ due to its superior liquidity and portability compared to traditional real estate and illiquid assets. To capitalize on this momentum, American Bitcoin is merging with Gryphon Digital Mining via a reverse merger, targeting a Nasdaq listing under the ticker ABTC and leveraging Hut 8’s cost-effective US energy infrastructure. The announcement fueled investor optimism, with Gryphon shares jumping over 200% and Hut 8 rising 12%. Notably, Abu Dhabi’s sovereign wealth fund Mubadala disclosed holding over $408 million in BlackRock’s Bitcoin spot ETF (IBIT), underscoring the institutional adoption wave. Trump emphasized that this surge in institutional and sovereign wealth fund interest, paired with a macro and political environment favoring censorship-resistant, liquid digital assets, is expected to push Bitcoin prices higher as demand intensifies. At the time of reporting, Bitcoin traded above $103,000, reflecting sustained market enthusiasm. For crypto traders, this signals strengthening institutional support, heightening competition among miners, and a likely bullish outlook for Bitcoin in both the short and long term. The developments also raise questions around regulatory scrutiny, transparency, and governance for new market entrants.