Grayscale seeks NYSE debut in latest sign of crypto IPO momentum under Trump
Grayscale has formally filed for an IPO to list its Class A common stock on the NYSE under the symbol GRAY.Summary
Grayscale Investments Inc. has formally filed an S-1 registration statement for an Initial Public Offering (IPO) with the SEC, intending to list its Class A common stock on the New York Stock Exchange under the symbol GRAY. As of September 30, 2025, Grayscale managed approximately $35 billion in assets. The planned IPO will utilize an Up-C structure and result in a dual-class structure where the parent company, Digital Currency Group, retains majority voting power, making Grayscale a "controlled company" under NYSE rules. This move is part of a significant surge in crypto firm IPO activity in 2025, driven by improved political conditions under the Trump administration and growing institutional interest, following recent public debuts by Gemini and Circle, and filings from BitGo and Consensys.
(Source：The Block)