Grayscale Files for IPO as it Eyes Closer Ties to TradFi

Grayscale Investments, a leading asset manager, has officially filed to go public. The company recently submitted its Initial Public Offering (IPO) documents to the U.S. Securities and Exchange Commission (SEC). 

This is an important step for Grayscale and the crypto industry, as cryptocurrencies become more part of traditional finance.

Grayscale Will Issue Two Types of Shares After IPO

As announced. Grayscale plans to list its stock on the New York Stock Exchange (NYSE) under the ticker symbol “GRAY.” After the IPO, Grayscale will issue two types of shares: Class A shares, which will be sold to the public with one vote per share. 

The second, Class B shares, owned by its parent company Digital Currency Group (DCG). These shares will have ten votes per share but no economic rights.

This setup means DCG will keep control over important company decisions, even after Grayscale becomes public. As a result of this, Grayscale will be considered a controlled company under NYSE rules. 

Grayscale’s IPO Highlights Growing Crypto Market and Investor Interest

Grayscale’s IPO will follow an “Up-C” structure. In this model, the new public company, Grayscale Inc., will own and manage its main operating business, Grayscale Operating LLC.

The money raised from selling shares will not go directly to Grayscale. Instead, it will be used to buy ownership interests from existing members before the IPO. This will allow early investors to sell part of their stake while keeping Grayscale’s core operations unchanged.

The crypto market has expanded quickly, reaching a total value of about $4 trillion by late 2025. Institutional investors, such as banks, funds, and wealth managers, are showing more interest than ever.

Surveys suggest that 83% of institutional investors plan to increase their crypto exposure this year. Many financial advisors now recommend small crypto allocations in client portfolios, showing growing confidence in the sector.

Several other companies like Gemini, BitGo, have taken steps similar to Grayscale by bringing crypto-related businesses into the public market.

Grayscale Holds A Strong Position in the Crypto Market

Grayscale currently manages about $35 billion in assets and offers more than 40 investment products covering over 45 different cryptocurrencies including Solana. 

The company estimates its total potential market to be about $365 billion. This represents the amount of money it believes could flow into global digital asset investment products. These numbers show that Grayscale is one of the strongest players in the growing market for crypto investments.

If Grayscale’s IPO is successful, it could help make crypto investing more widely accepted in traditional markets. The move will also give investors another way to benefit from the growth of digital assets without directly buying cryptocurrencies.