Grayscale Investments says it filed a draft S-1 registration statement with the U.S. Securities and Exchange Commission (SEC)the document marks the planned initial public offering (IPO).
The asset manager owned by Barry Silbert’s digital currency group did not disclose the details of the submission and said it was expected to register after the SEC completed its review process (according to market and other conditions). Press release.
Confidential documents allow companies to negotiate with closed agencies before revealing plans. This is a common strategy to measure regulatory feedback while keeping competitive details out of the public eye until they are ready.
The move increases the number of grayscale, as the digital asset market heats up, increasing the number of growing companies its companies openly grows, Bitcoin
Hit a new all-time high.
Stablecoin Issuer Circle (CRCL) Public debut Since then, in early June, stocks have soared more than 500%. In the weeks leading up to this, the stock trading app Etoro (Come) This move is also made. Its stake is now 10% higher.
As a result of a tariff discussion chaired by President Donald Trump challenged the macroeconomic period, Circle and Etoro put the market in the challenged macroeconomic period, but both debuted at higher valuations than expected, suggesting a renewed interest in digital assets is a closer rule by U.S. lawmakers on cryptocurrency companies, especially Stablecoin issuers.
By contrast, Grayscale’s proposal is at a time when crypto assets are bullish. The price of Bitcoin in the largest cryptocurrency by market value reaches record highs almost every day. The token is currently trading at $121,728, which is always up 30%, only Beyond Gold As the best performing asset of that year.
Grayscale is one of the largest crypto asset managers. Its core product is the funds traded by trusts and exchanges (ETF) For example, its flagship Graysale Bitcoin Trust (GBTC) Trust with Ethereum (Which)both of which were converted into ETFs in January last year. These two people alone have $24 billion in assets under management.
Both have suffered a lot of outflows since the conversion, as asset managers charge more for their products than competitors, making it more expensive for investors to buy and hold products.
However, many believe that grayscale is one of the reasons for approval after the Bitcoin ETF begins Win the legal battle Opposing the SEC on its spot Bitcoin ETF application ended up with the approval of several Bitcoin ETFs.
renew (July 14, 13:25 UTC): Change the clue photo.
renew (July 14, 13:48 UTC): In paragraph 5, Grayscale Products and Background paragraph 8, the latest IPO is added.