Grayscale: Crypto asset manager applies for IPO in the US

INFBusiness
17.11.2025
Markets

Crypto asset manager Grayscale plans to go public in the US. The company has filed a registration statement with the US Securities and Exchange Commission (SEC) for this purpose.
In the announcement, Grayscale stated its intention to list its Class A common shares on the New York Stock Exchange under the ticker symbol GRAY. The company explained that the issue price would be determined “as part of a targeted share program” for investors in its Grayscale Bitcoin Trust ETF and Grayscale Ethereum Trust ETF.
However, it could take weeks or months for the registration to become effective. Grayscale's filing occurred on the first day the SEC resumed normal operations after a 43-day government shutdown.
The public filing with the SEC occurred approximately four months after Grayscale had confidentially submitted an application for an initial public offering (IPO).
According to the information in the registration statement, the asset manager reported a year-on-year decrease in net income of approximately $20 million, from $223.7 million in September 2024 to $203.3 million in September 2025.
Grayscale is an asset manager specializing in digital assets like Bitcoin and Ethereum, building exchange-traded products and funds from them. These products allow investors to invest in cryptocurrencies without having to manage or securely store the coins themselves.
Following a sell-off in the US stock market, Bitcoin slipped below $97,000. While fears of a crypto bear market are fueling bearish sentiment, some analysts argue that the market has fundamentally changed due to institutional adoption.
If you want to buy Bitcoin or other cryptocurrencies, you can do so at Coinbase, among other places. Currently, you'll receive €30 in Bitcoin as a gift when you buy cryptocurrencies worth at least €30.

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