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ETF Giant Grayscale Confidentially Files for IPO

The storied crypto asset manager quietly files to go public amid listing boom,
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Jul 14, 2025 • 1 min read

Grayscale has submitted a confidential filing for a U.S. IPO, aiming to join the wave of crypto firms tapping into public market momentum as Bitcoin rallies and regulatory winds shift.

What’s the Scoop?

  • Confidential S‑1 Filing: Grayscale filed a draft registration statement with the SEC, formally signaling intent to go public—though timing, valuation, and share details remain undisclosed.
  • IPO Momentum: The filing comes as Circle, Bullish, Gemini, and others move toward public listings, with markets warming to crypto equity plays.
  • Favorable Market Backdrop: With BTC trading above $120K and growing political support for digital assets, Grayscale appears to be timing its move to capitalize on bullish sentiment.
  • Scale and Reach: Grayscale manages over $33B across 35+ crypto products, including its recently converted spot Bitcoin ETF—making it one of crypto’s biggest institutional onramps.

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