Grayscale Eyes Public Markets with SEC IPO Filing

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Grayscale Investments has taken a key step toward going public, confidentially filing IPO paperwork with the SEC, the firm disclosed Monday. Details on share volume and valuation remain undisclosed, with the offering timeline still flexible.

The confidential submission keeps financials private until Grayscale finalizes its plans—a common tactic under SEC rules.

A public listing would cap a transformative period for the firm, which successfully converted its Bitcoin and Ethereum trusts into ETFs this year, amassing over $30 billion in assets amid crypto’s bull run.

The IPO also signals growing institutional interest in crypto under the Trump administration, following Circle’s NYSE debut and filings from Gemini and Bullish.