Grayscale Files Confidential Submission for IPO With SEC
Main Idea
Grayscale Investments has confidentially submitted a draft S-1 registration statement to the SEC, signaling plans for an IPO, amid a growing trend of crypto-related companies going public.
Key Points
1. Grayscale Investments submitted a confidential draft S-1 registration statement to the SEC, indicating plans for an IPO.
2. The IPO is contingent on the SEC's review process and market conditions.
3. Other crypto-related companies like Circle and eToro have recently gone public, with Circle's stock surging over 500% since its debut.
4. Bitcoin's price has risen 30% year-to-date, reaching $121,728, and has overtaken gold in market value.
5. Grayscale's Bitcoin Trust (GBTC) and Ethereum Trust (ETHE), now ETFs, hold a combined $24 billion in assets.
Description
Grayscale Investments said it confidentially submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), a filing that signals plans for an initial public offering (IPO). The asset manager didn't disclose details of the submission and said the registration is expected to take place after the SEC completes its review process, subject to market and other conditions, according to a press release . Confidential filings allow firms to negotiate with the SEC behi...
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