Crypto-focused asset manager Grayscale announced on Monday that it has confidentially filed documents with the U.S. Securities and Exchange Commission, indicating possible plans for a public listing as bitcoin reaches new highs.
READ ALSO: Binance Opens Crypto Trading to Syrians Following U.S. Sanctions Lift
The filing comes as “crypto week” kicks off in Washington, where lawmakers are set to discuss three key bills that could bring long-anticipated regulatory clarity to the sector.
Investor optimism over the proposed legislation seen as a potential gateway for deeper integration of digital assets into traditional finance has driven bitcoin past the $120,000 mark for the first time.
“Previous crypto cycles were largely retail-driven due to a lack of regulatory clarity. This time, institutions are leading the charge,” analysts at Bernstein noted.
Grayscale’s filing follows the high-profile debut of stablecoin issuer Circle over a month ago and adds to the growing list of major crypto firms eyeing public listings in the near future. Gemini, the crypto exchange founded by billionaire twins Tyler and Cameron Winklevoss, is also preparing for a U.S. IPO.
Interest in crypto firms has surged since President Donald Trump’s return to the White House. So far this year, shares of major players like Coinbase and MicroStrategy have climbed 56% and 50%, respectively.
Founded in 2013, Grayscale manages over $33 billion in assets across more than 35 investment products. Based in Stamford, Connecticut, the company is a key player in the crypto sector and operates one of the leading spot bitcoin exchange-traded funds.
Investor excitement over the proposed legislation seen as a step toward deeper integration of digital assets into traditional finance has driven bitcoin above the $120,000 mark for the first time.
“In past crypto cycles, retail investors led the charge in the absence of regulatory clarity. This time, institutional players are at the forefront,” analysts at Bernstein noted.
Grayscale’s announcement follows the high-profile IPO of stablecoin issuer Circle over a month ago and adds to a growing list of prominent crypto firms eyeing public listings in the near future. Gemini, the crypto exchange founded by billionaire twins Tyler and Cameron Winklevoss, is also preparing for an IPO.
Since President Donald Trump’s return to the White House, interest in crypto firms has surged. This year alone, shares of major players like Coinbase and MicroStrategy have risen by 56% and 50%, respectively.
Founded in 2013, Grayscale manages over $33 billion in assets across more than 35 investment products. Based in Stamford, Connecticut, the company is a key player in the crypto industry and manages one of the leading spot bitcoin exchange-traded funds.
The company’s legal battle with the SEC played a pivotal role in clearing the path for last year’s approval of spot bitcoin ETFs.
Confidential filings enable companies to keep financial information and offering details private until they approach the official listing date.