Bitcoin, Ethereum ETF Operator Grayscale Files to Go Public in US

Crypto asset manager Grayscale Investments has announced plans to go public.

In a Thursday statement, the firm said it had filed paperwork with the U.S. Securities and Exchange Commission for a proposed initial public offering of its stock on the New York Stock Exchange.

The firm added it would trade under the ticker “GRAY.”

“The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or other terms of the offering,” a statement from Grayscale read. 

Grayscale Investments first signaled plans in July that it was hoping to go public by filing a draft registration statement with the SEC. The firm operates popular spot Bitcoin and Ethereum ETFs in the United States, along with trusts for a variety of other assets.

The firm manages around $35 billion in assets, making it one of the biggest crypto asset managers, and is a unit of Digital Currency Group. 

Grayscale made headlines in 2023 when a federal judge decided to overturn the SEC’s decision to block the firm from converting its Bitcoin trust into a spot ETF—a win for the digital asset space that subsequently led to the 2024 approval of the hugely popular crypto funds. 

A number of top crypto companies have gone public this year—or announced plans to do so. Crypto exchange Gemini, stablecoin issuer Circle, and institutional investor platform Bullish all debuted on U.S. stock exchanges in 2025.

Editor’s note: This story was updated after publication with additional details.