SCHEDULE: Eric Trump Transfers American Bitcoin Stake to Trust

Eric Trump has transferred his entire beneficial ownership of American Bitcoin Corp. Class A Common Stock to the Eric F. Trump Revocable Trust 2015.

Summary

• Eric Trump transferred all his shares of American Bitcoin Corp. (ABTC) Common Stock to the Eric F. Trump Revocable Trust 2015 on November 19, 2025.
• The transfer was made for no consideration.
• The 2015 Trust now beneficially owns 68,147,664 shares, representing 7.3% of the Class A Common Stock.
• Eric Trump serves as the trustee and a beneficiary of the 2015 Trust.
• This amendment updates the initial Schedule 13D filed by Eric Trump on September 3, 2025, and serves as the initial Schedule 13D for the 2015 Trust.
• The percentage of ownership is calculated based on 195,380,091 shares of Class A Common Stock and 732,224,903 shares of Class B Common Stock outstanding as of November 14, 2025.

Sentiment

Score: 5

Explanation: Neutral. This is an administrative filing reporting a change in beneficial ownership structure, not a performance update or strategic announcement. It has no direct positive or negative implications for the company's operations or financial health.

Future Outlook

NA

Management Comments

• Each of the undersigned agrees that (i) the statement on Schedule 13D relating to Class A Common Stock, par value $0.0001 per share, of American Bitcoin Corp. has been adopted and filed on behalf of each of them, (ii) all future amendments to such statement on Schedule 13D will, unless written notice to the contrary is delivered as described below, be jointly filed on behalf of each of them and (iii) the provisions of Rule 13d-1(k)(1) under the Securities Exchange Act of 1934 shall apply to each of them.

Industry Context

NA

Corporate Governance

Related Party Transactions

• Transfer of all Common Stock from Eric Trump to the Eric F. Trump Revocable Trust 2015 for no consideration. Eric Trump is the trustee and a beneficiary of the 2015 Trust.

Stakeholder Impact

• Shareholders: No direct impact on the company's operations or financial performance. The beneficial ownership percentage remains the same, but the legal holder of the shares has changed from an individual to a trust.

Next Steps

• Future amendments to the Schedule 13D will be jointly filed by Eric Trump and the Eric F. Trump Revocable Trust 2015, unless written notice to the contrary is given.

Key Dates

Recommendation

This filing is an administrative update regarding the beneficial ownership structure of a significant shareholder. It reports the transfer of shares from Eric Trump to a revocable trust where he remains the trustee and beneficiary. There are no new financial results, operational updates, or strategic changes disclosed that would alter the investment thesis for American Bitcoin Corp. The overall beneficial ownership percentage remains constant. Therefore, a 'hold' recommendation is appropriate as this filing provides no new information to warrant a change in investment stance.

Keywords

American Bitcoin Corp, ABTC, Eric Trump, Schedule 13D, Beneficial Ownership, Trust, Class A Common Stock, Share Transfer, SEC Filing