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57m ago

Grayscale Publicly Files S-1 for NYSE IPO Under Ticker GRAY

The move advances the crypto manager’s push into public markets following a year of ETF-fueled growth.

Grayscale's new ad campaign in New York's Penn Station. (Nikhilesh De/CoinDesk)
A trader walks past on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 14, 2025. REUTERS/Brendan McDermid
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Grayscale files ipo with sec for nyse listing targeting ticker gray

Overview

  • Grayscale publicly filed a Form S-1 with the SEC and applied to list Class A shares on the NYSE under the symbol GRAY.
  • The company said the number of shares and price range are not set, and completion depends on regulatory approval and market conditions.
  • The filing describes an Up-C structure enabling the public company to acquire membership interests from pre-IPO holders primarily controlled by Digital Currency Group.
  • Grayscale indicated a special allocation program that reserves some IPO shares for investors in its Bitcoin and Ethereum ETFs.
  • Morgan Stanley, BofA Securities, Jefferies, and Cantor will lead the deal, with additional banks in the syndicate; analysts have projected a potential late-2025 to early-2026 listing window and valuations around $30–$33 billion.