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Crypto Asset Manager Grayscale Files for IPO in the U.S.
Grayscale, managing $35 billion in assets, filed for an IPO on the NYSE to broaden digital asset investment access while retaining parent company control.
- Grayscale Investments filed a Form S-1 with the SEC to list Class A common stock on the NYSE under ticker GRAY, aiming to expand digital-asset access.
- With about $35 billion in AUM, Grayscale Investments said the IPO follows crypto IPOs by Circle Internet Group and Bullish and aims to expand and simplify digital-asset access.
- Lead banks Morgan Stanley & Co. LLC, BofA Securities, Jefferies LLC, and Cantor Fitzgerald & Co. will distribute prospectuses, according to the filing.
- The company's results show net income $203 million for the nine months to Sept. 30, a 9.1% decline, revenue $318.7 million , and average AUM $30.6 billion, while the filing says Digital Currency Group would retain control after any listing.
- Amid regulatory and market uncertainty, the filing cautions the proposed offering may not be completed, while Barry Silbert, Chairman, said Grayscale helped scale investor access and is suing the SEC to convert its trust into an ETF.
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Grayscale, the largest asset manager specializing in cryptocurrency in the world, is about to enter the stock market soon. What do we know about this project of Initial public offering (IPO)? L-article Grayscale: the giant of crypto investment seeks to enter the stock market has appeared first on Cryptoast.
While the SEC digests its shutdown, Grayscale rushes to Wall Street. An IPO? Yes, but under tight control. The crypto enters the stock exchange... and not in democracy. The Grayscale article formalizes its request for introduction to the stock exchange appeared first on Cointribune.
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