Eric Trump's American Bitcoin dips 40% after token lockup expires

American Bitcoin, the bitcoin mining and accumulation firm co-founded by Eric and Donald Trump Jr., saw its stock price plummet on Tuesday after a portion of the shares were freed from the lockup period.

According to Google Finance data , ABTC plummeted nearly 50% in the first hour after markets opened, falling to a low of $1.80 from its previous day’s closing price of $3.58. After a day of price volatility, ABTC closed the session at $2.19 — a 38.83% daily decline. 

"Today our pre-merger private placement shares unlocked — these early investors are freely available to cash in on their profits for the first time, which is why we will see volatility," Eric Trump wrote on X. American Bitcoin merged with Gryphon Digital Mining to trade on the Nasdaq in September.

Trump said the company's fundamentals are "virtually unmatched" and that he is not selling any of his shares.

Last month, American Bitcoin reported strong third-quarter results , with revenue rising to $64.2 million from $11.6 million year-over-year, and net income reaching $3.5 million compared to a $0.6 million net loss a year earlier. "We more than doubled our mining capacity, more than doubled revenue, and grew gross margin by seven percentage points quarter-over-quarter," American Bitcoin CEO Michael Ho said at the time.

The company has also been expanding its bitcoin reserve. As of Nov. 13, the company said it holds around 4,090 BTC in its treasury, including coins held in custody or pledged for miner purchases.

Still, the company's shares are continuing on a downward trajectory since hitting a $9.31 peak in September, from which it has fallen 76.5%. 

ABTC's decline mirrors a broader slump among crypto-related equities as the overall digital asset market remains weak. Coinbase is down 20% in the past month, while USDC issuer Circle fell 39% in the same period. Gemini is also down 47% in the past month.

Clear Street's Brian Dobson told Bloomberg that there are more equity unlocks in 2026 for ABTC and advised investors to pay close attention to the upcoming expirations.