Grayscale Investments said he had confidentially submitted an S-1 registration declaration draft to the American Commission for Securities and Exchange (SECOND)A file that reports provides for a first public offer (IPO).
The asset manager belonging to the digital currency group of Barry Silbert did not disclose the details of the submission and declared that the registration should take place after the start of his examination process, subject to the market and other conditions, according to a press release.
Confidential deposits allow companies to negotiate with the closed -door agency before revealing their plans. It is a current tactic to measure regulatory comments while keeping competitive details outside the public view until a launch is ready.
This decision adds a gray scale to the number of growing companies in line to return their public companies while the digital asset market heats up, with Bitcoin
Stronging new heights of all time.
Stablecoin transmitter circle (CRCL) made its public debut in early June, and the title has increased by more than 500% since then. A few weeks before that, the trading application in Stock Etoro (Etor) also took the plunge. Its shares are now 10% higher.
While Circle and Etoro hit the market during difficult macroeconomic times due to tariff discussions by President Donald Trump, both made their debut to higher than expected assessments, which suggests a renewed interest in digital assets as American legislators are closer to the clearer rules for cryptographic companies, in particular stable issuers.
Graycale’s proposal, on the other hand, comes at a time from the bullish momentum for cryptographic assets. The Bitcoin price, the largest cryptocurrency by market value, reaches record summits almost daily. The token is currently negotiating at $ 121,728, up 30% of years to date and has exceeded gold as the most efficient asset of the year.
Grayscale is one of the largest managers of cryptographic assets. Its main products are trusts and negotiated funds in exchange (ETF) Like its Bitcoin Trust Gray Headlight (GBTC) And Ethereum Trust (Ethe)Both converted into ETF in January of last year. Both of them alone have 24 billion dollars combined under management.
The two have undergone heavy outings since their conversion because the asset manager has higher costs for his products than competitors, which makes investors more expensive to buy and hold the product.
However, many, however, think that Grayscale is one of the reasons why the Bitcoin Spot ETFs were approved to start after winning a legal fight against dry on its ETF Bitcoin Spot application, ultimately leading to the approval of several Bitcoin ETF.
UPDATE (July 14, 13:25 UTC):: Modifies the lead photo.
UPDATE (July 14, 13:48 UTC):: Add recent IPOs in the fifth paragraph, gray level products, background starting in eighth.
