Donald Trump Jr. and Eric Trump’s foray into cryptocurrency has delivered a multibillion-dollar windfall after American Bitcoin Corp., a mining company tied to the two, made its debut on the Nasdaq.

Shares surged on opening day, valuing the brothers’ combined 20% stake at roughly $1.5 billion by the close of trading. At its intraday peak, the holding was briefly worth more than $2.5 billion.

American Bitcoin, which counts energy-focused Hut 8 Corp. as its majority shareholder, listed with nearly 909 million shares outstanding and announced plans to raise $2.1 billion through fresh stock sales. Proceeds, it said, will go toward purchasing bitcoin or new mining equipment.

The Trump sons’ crypto footprint has expanded rapidly over the past year. Alongside American Bitcoin, they co-launched World Liberty Financial, a platform that has generated around $500 million since its token debut. Other ventures include Trump-branded meme coins and partnerships with exchanges and fintech firms.

Eric Trump, who serves as American Bitcoin’s chief strategy officer, has positioned himself as one of the industry’s most prominent advocates. Speaking on debut day, he dismissed conflict-of-interest concerns tied to his father’s presidency as “insane,” stressing that Donald Trump Sr. “has absolutely nothing to do with this venture.”

President Trump himself has branded his administration as pro-crypto, promising to make the U.S. a global leader in digital assets. Analysts note that easing regulations under his watch have coincided with surging investor demand in the sector.

For the Trump family, whose fortune has traditionally been anchored in real estate and hospitality, the pivot to digital assets marks a significant diversification — and a potentially lucrative one.