Crypto asset manager Grayscale has filed for an initial public offering in the US, in the latest sign of how the Trump’s administration’s warm embrace of the industry has set off a rush of listings by digital assets groups.
The company said on Monday that it had confidentially submitted an IPO registration statement to the Securities and Exchange Commission, but did not provide details of the number of shares to be sold or the anticipated price range.
The listing plans represent a recent reversal of fortune for Grayscale, which years ago sparred publicly with former President Joe Biden’s SEC about converting its flagship Bitcoin Trust into an exchange traded fund. Wall Street’s top financial watchdog in 2022 rejected Grayscale’s application, but that decision was overruled the following year by a federal appeals court.