Grayscale Investment has submitted an S-1 filing with the US SEC, effectively filing for an IPO.
Grayscale eyes listing on the NYSE under the symbol GRAY.
Morgan Stanley, BofA Securities, Jefferies, and Cantor are the lead underwriters for the IPO.
Grayscale Investment has filed for an Initial Public Offering (IPO) with the United States (US) Securities and Exchange Commission (SEC), joining other industry players that are accelerating their presence in the country's equity markets.
Grayscale submits S-1 filing for US IPO
Grayscale submitted an S-1 filing with the SEC on Thursday to pursue an IPO of its common stock. The company stated that the offering will result in two classes of common stock: Class A with, with one vote per share and economic rights, and Class B, with an aggregate percentage of voting power.
The number of shares to be registered and the proposed price range, if the offering is yet to be determined. Grayscale added that the offering will commence following SEC review and is subject to other market conditions.
Grayscale expects to list on the New York Stock Exchange (NYSE) under the symbol GRAY. The lead underwriters for the offering are Morgan Stanley, BofA Securities, Jefferies and Cantor.
Grayscale is a leading digital asset manager, with approximately $35 billion in assets under management (AUM). The company has an estimated total addressable market of $365 billion and offers over 40 products, including Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs).
The filing comes after the longest US government shutdown, which had paralysed most of the SEC's operations. According to Reuters, the agency had been operating with skeletal staff during the record-breaking shutdown.
Many crypto-related firms have expressed interest in US public listings, building on the President Donald Trump administration's push for clear regulations. Regulatory agencies, including the SEC and the Commodity Futures Trading Commission (CFTC), are developing frameworks that support industry innovation while protecting customer and stakeholder interests.
