Grayscale submits confidential IPO filing with SEC

Cryptocurrency-focused plus manager and exchange-traded money (ETF) issuer Grayscale joined a increasing database of crypto companies seeking to motorboat IPOs successful the United States.

On Monday, Grayscale said it had filed to database its institution shares with the Securities and Exchange Commission (SEC) nether a caller clause that enables confidential filings up of a last nationalist offering.

Entering nationalist markets would alteration Grayscale to question much backing opportunities done strategies specified arsenic public banal offerings, which was leveraged by Michael Saylor’s Strategy, oregon convertible enactment offerings, specified arsenic GameStop’s $2.25 billion offering from June 13.

Related: ‘Apple should bargain Bitcoin,’ Saylor says, arsenic stock buyback disappoints

Grayscale’s filing comes implicit a period aft Circle, the issuer of the world’s second-largest stablecoin USDC (USDC), upsized its IPO to implicit $1.05 cardinal and debuted connected the New York Stock Exchange connected June 5.

CRCL/USD 1-day terms chart, aft Circle IPO. Source: Yahoo Finance

The IPO pricing gave Circle a valuation of $6.9 cardinal based connected the much than 220 cardinal outstanding shares listed successful a June 2 filing.

Circle’s IPO occurrence whitethorn animate much crypto-native firms to determination into nationalist markets with akin offerings, sparking a renewed crypto IPO season successful 2025.

Related: Blockchain Group adds $68M successful Bitcoin to firm treasury

This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.