Grayscale Investments filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) in connection with a proposed initial public offering (IPO) of its common stock.
Grayscale noted that the number of shares to be registered and the proposed price range for the offering have not yet been determined. The company stated that the offering is expected to proceed following SEC review and is subject to market and other conditions.
Grayscale, a major cryptocurrency asset manager known for its conversion of the Grayscale Bitcoin Trust (GBTC) and other crypto investment vehicles into exchange-traded funds (ETFs), is moving toward public markets at a time of increased institutional attention.
The filing comes amid a broader wave of crypto-native companies seeking to go public in the US, following the successful IPO of stablecoin issuer Circle Internet Group (CRCL) and cryptocurrency exchange Bullish (BLSH) earlier this year.
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