The cryptocurrency market is thriving, allowing many companies to initiate IPO processes in the U.S. Grayscale Investments is the latest to take this step.
Grayscale's IPO Application
Grayscale Investments has announced that it has confidentially submitted a draft registration statement on Form S-1 to the SEC in order to begin public trading. "The number of shares to be registered and the price range for the proposed registration have not yet been determined. The registration is expected to take place after the SEC completes its review process, subject to market and other conditions," the official statement reads.
Comparison with Other Companies
If approved, Grayscale will join companies like Coinbase, which went public years ago, and Circle, whose shares started trading in early June and saw a significant increase in value. Circle’s shares, indicated as CRCL, skyrocketed from under $50 to nearly $190 as of Friday’s closing price.
Market Situation
Grayscale's filing comes at a time when the cryptocurrency market has revived, with Bitcoin's price breaking past $121,000, setting a new record. Currently, Bitcoin's price has reached $123,000.
In conclusion, Grayscale Investments is taking steps towards a public stock listing amid a growing cryptocurrency bull market. If successful, this could open new opportunities for the company, following in the footsteps of other market players.
