Bitcoin News Update: Grayscale Submits IPO Application Amid 20% Revenue Decline and Intense Cryptocurrency Market Rivalry
- Grayscale Investments files for NYSE IPO as "GRAY", managing $35B in crypto assets including its flagship Bitcoin product. - The SEC filing follows a July S-1 submission, reflecting broader crypto sector trends with firms like Circle and Gemini also going public. - 2025 revenue dropped 20% to $318.7M due to competitive pressures and crypto market volatility, despite 2023 ETF conversion boosting credibility. - The IPO roadshow with Morgan Stanley and others targets $30-33B valuation, with listing expected
Grayscale Investments, recognized as one of the top crypto asset managers in the United States, has
The IPO
Grayscale's regulatory efforts have played a crucial role in its pursuit of a public listing.
The IPO journey will likely include a roadshow targeting institutional investors to determine pricing, with
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