 
 
Grayscale Investments has confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission (SEC), a filing that indicates plans for an initial public offering (IPO).
The asset manager did not disclose the number of shares to be offered or a valuation target and revealed that the registration is expected to happen after the SEC concludes its review process, according to a July 14 press release.
As per the regulator’s rules, firms that file confidentially can keep sensitive financial details behind closed doors until they decide to continue with an offering. It’s a popular technique for evaluating regulatory feedback while keeping competitive details away from the public eye until an official launch is ready.
The move adds Grayscale to the list of companies mulling public listings as the crypto assets market heats up, with Bitcoin smashing new historic highs amid President Donald Trump’s pro-crypto regime.
Stablecoin issuer Circle went live on the New York Stock Exchange on June 5. Shares of Circle have soared more than 500% since its Wall Street debut. Gemini and Bullish also sought to move into public markets following Circle’s blockbuster IPO. There has also been speculation of Ripple going the IPO route, though the company’s CEO has clarified it has “no interest” in going public in the United States.
 
An initial public offering would sum up a rather busy 18 months for Grayscale. In January 2024, the company successfully transformed its flagship Grayscale Bitcoin Trust GBTC into a spot BTC exchange-traded fund after notching a major legal win against the SEC. A similar conversion of its Ethereum trust followed in May. These two products have a combined $24 billion of assets under management so far.
The Digital Currency Group subsidiary has also filed multiple applications with the SEC for funds based on leading altcoins, including Ripple-affiliated XRP, Solana (SOL), and Cardano (ADA).
Source: https://zycrypto.com/grayscale-submits-confidential-draft-filing-with-the-sec-signaling-plans-to-go-public/