Grayscale is reportedly filing for an IPO with the SEC. It is a major crypto player, issuing spot Bitcoin and Ethereum ETFs.
Based on the success of MicroStrategy and SharpLink, it is no coincidence that more crypto firms are opting to fundraise via IPOs and list on top U.S. exchanges rather than holding ICOs.
Grayscale Privately Files for an IPO
Yesterday, it emerged that Grayscale Investments, a leading crypto asset manager and issuer of spot Ethereum and Bitcoin ETFs, confidentially filed a Form S-1 with the United States Securities and Exchange Commission (SEC).
The filing signals an intention to pursue an IPO in the United States, a move amid a favorable crypto environment under President Donald Trump. It also coincides with BTC ▼-4.19% soaring above $123,000 and Ethereum soaring above $3,000, lifting some of the best cryptos to buy in the process.
According to reports, Grayscale submitted a draft registration statement, Form S-1, as stipulated under the JOBS Act. This official filing allows Grayscale to keep financial details private until 15 days before its investor roadshow.
The confidential approach minimizes public scrutiny while Grayscale negotiates with the regulator and refines its fundraising plan.
Due to the confidentiality of the filing, there are no details about the number of shares Grayscale seeks to issue or the valuation target. Moreover, the precise timeline for the IPO remains unclear, as it will depend on market conditions and SEC approval.
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Resilience After Challenges
This development is a welcome boost for Grayscale, showcasing its resilience following the bankruptcy of its parent company, Digital Currency Group (DCG), in 2022 and 2023.
DCG faced challenges due to its ties with Genesis Global Trading, a sister company, during the market turbulence of the last crypto winter. This turbulence drove some of the top Solana meme coins to all-time lows and led to the collapse of FTX and other crypto venture capital firms.
Genesis Global Trading, a crypto lending arm under DCG, faced significant challenges after FTX’s bankruptcy, which impacted the $175 million the trading firm had tied to the exchange.
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Grayscale Is a Major Player in Crypto
Since that market turbulence, Grayscale has bounced back strongly, converting its Grayscale Bitcoin and Ethereum Trusts into spot ETFs in 2024. Collectively, these SEC-regulated products manage over $30 billion in assets, with GBTC holding over $28 billion.
Grayscale’s prior experience with the SEC will aid negotiations with the regulator.
Under the Donald Trump administration, there have been major regulatory changes.
The GENIUS Act will likely become law in 2026, while SAB 121, which barred traditional financial institutions from holding crypto, has been rescinded.
SAB 122 now permits banks to engage with crypto, creating a more crypto-friendly environment.
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The IPO would provide Grayscale access to broader capital markets, enabling it to raise funds beyond its ETF products while enhancing transparency and strengthening corporate governance.
If successful, it would cement Grayscale as a dominant player in crypto, allowing the company to expand and issue stablecoins, as is the trend with major TradFi firms.
Grayscale may also consider creating a crypto treasury, accumulating Bitcoin and Ethereum to bolster its reserves.
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Grayscale IPO Filing with SEC: Will Crypto Benefit?
- Grayscale confidentially submits Form S-1 to the SEC
- Coincides with Bitcoin breaking $123,000
- Crypto environment friendly under Donald Trump
- Grayscale already issues spot Bitcoin and Ethereum ETFs
The post Grayscale Public Listing Plans to Materialize Soon? Company Submits IPO Filing to SEC appeared first on 99Bitcoins.
