Grayscale Joins Queue of Crypto Firms Filing to Go Public — WSJ
By Vicky Ge HuangGrayscale Investments, the crypto asset manager that helped popularize bitcoin funds, said it plans to go public.The company made its plans known to regulators through a confidential filing with the Securities and Exchange Commission. It said Monday it hasn't yet determined the number of shares to be registered and the price range of its offering.With bitcoin setting repeated new highs and President Trump vowing to make America the "crypto capital of the planet," a slew of digital-currency companies have unveiled their plans to go public this year. Crypto exchange Gemini filed confidentially to go public last month, and shares of stablecoin issuer Circle Internet Group have skyrocketed more than 500% since its blockbuster stock-market debut.Grayscale is a unit of Digital Currency Group and a key part of the crypto empire built by billionaire investor Barry Silbert.Its Grayscale Bitcoin Trust emerged as one of the few ways investors could bet on bitcoin without buying the tokens themselves. The company sued the SEC in 2022 for rejecting its bid to turn the trust into an exchange-traded fund, and a court ruling in its favor opened the doors for the regulator to approve a group of bitcoin ETFs. Since then, nearly a dozen bitcoin ETFs have raked in nearly $55 billion in new investor money, according to Bloomberg and JPMorgan data.Write to Vicky Ge Huang at [email protected]