Crypto-focused asset manager Grayscale said on Monday it has confidentially submitted paperwork with the Securities and Exchange Commission, signalling potential plans for a US listing as bitcoin scales new highs.
The move coincides with the start of the “crypto week” in Washington, where lawmakers are set to debate three major bills that could offer long-awaited clarity to the industry.
Investor enthusiasm around the bills, which are expected to pave the way for digital assets to potentially be further integrated into traditional finance, has pushed bitcoin above $120,000 for the first time.
Shares of stablecoin giant Circle, another heavyweight in the crypto industry, have jumped nearly three-fold since they started trading following their blockbuster debut last month.
Crypto firms have seen a surge of interest since President Donald Trump returned to the White House.
Trump has pledged to make the US the “crypto capital of the world”. SEC Chair Paul Atkins, whom Trump had nominated, has also taken steps to provide greater regulatory clarity for the industry.
So far this year, shares of crypto giants Coinbase and Strategy have jumped 56% and 50%, respectively.
A growing cohort of firms has also begun adopting bitcoin as part of their corporate treasury strategy, making the token an increasingly integral part of their financial operations.
Grayscale, founded in 2013, manages over $33 billion of assets across more than 35 investment products.
A prominent player in the crypto space, the Stamford, Connecticut-based company also oversees a leading spot bitcoin exchange-traded fund.
The company’s legal challenge against the SEC was instrumental in paving the way for the approval of spot bitcoin ETFs last year.
Confidential filings allow companies to withhold details about their finances and offering terms until closer to the actual listing.
Reuters
