Grayscale Investments Files for IPO on NYSE, Aiming to List Under Ticker Symbol “GRAY”
Grayscale Investments, a leading crypto-focused asset manager, has filed for an initial public offering (IPO) of its Class A common stock with the U.S. Securities and Exchange Commission (SEC). The company plans to list its shares on the New York Stock Exchange (NYSE) under the ticker symbol “GRAY”.
Key Details of the IPO
Grayscale’s parent company, Digital Currency Group (DCG), will maintain control over the company by owning both Class A and Class B shares. The Class A shares will provide one vote per share and carry economic rights, while the Class B shares will carry ten votes but no economic rights. The company has not yet announced its expected price range.
The IPO follows an “Up-C” structure, in which the public company and the operating LLC remain separate, and the latter receives no proceeds from the sale. Proceeds from the IPO will be used to purchase membership shares from existing members at the offering price, less subscription fees.
Crypto IPOs Gain Momentum
The IPO filing by Grayscale comes amid a surge in cryptocurrency-related public offerings. Recently, tZero Group, a blockchain infrastructure company, announced that it was preparing to go public in 2026. BitGo, a dedicated crypto custodian, also filed for an IPO, and stablecoin issuer Circle’s IPO in June has seen its stock increase more than sevenfold since listing.
Other notable crypto-related IPOs include the listing of Galaxy Digital, led by Mike Novogratz, on Nasdaq, and the confidential filing of an IPO by Gemini, the exchange founded by the Winklevoss twins. Figure Technology Solutions Inc., a blockchain-focused lending platform, raised $787.5 million in its IPO, indicating strong investor demand.
For more information on Grayscale’s IPO and the growing trend of crypto-related public offerings, visit https://cryptonews.com/news/crypto-focused-asset-manager-grayslace-files-for-nyse-ipo/
