Grayscale Files S-1 for NYSE Listing Under “GRAY” Symbol

Grayscale Investments Inc. has filed an S-1 form with the US Securities and Exchange Commission (SEC), applying for a public listing on the New York Stock Exchange under the symbol "GRAY".

Morgan Stanley, BofA Securities, Jefferies, and Cantor will be lead managing bookrunners, with Wells Fargo Securities and others as additional managers.
The S-1 filing proposes two classes of common stock: Class A with one vote per share and economic rights, and Class B with ten votes per share but no economic rights.
The number of shares and price range for the IPO are yet to be determined, subject to market conditions.

This announcement follows the end of the longest US government shutdown, indicating confidence in the cryptocurrency sector's recovery. Bitcoin remains at $101K per coin.

Grayscale's chief legal officer discussed how the SEC might process S-1 forms post-shutdown, suggesting they could become effective after 20 days or require further engagement from issuers.