Crypto-focused Grayscale confidentially files for potential U.S. listing

Crypto-focusedasset managerGrayscalesaid on Monday it hasconfidentiallysubmitted paperwork with the Securities and Exchange Commission, signalingpotentialplans for a U.S.listingas bitcoinscales new highs.

The move coincides with the start of the”cryptoweek”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 topotentially be further integrated into traditional finance, has pushed bitcoinabove $120,000 for the first time.

“All the previouscryptocycles were led by retail in absence of regulatory clarity. However, this cycle has been led by institutions,” analysts at Bernstein wrote in a note.

Grayscale’s announcement comes more than a month after stablecoin giant Circle’sblockbuster debut, and could add to a growing cohort of high-profile IPO candidates looking to list in the coming months.

Gemini, acryptoexchange run by billionaire twins Tyler and Cameron Winklevoss, is alsopreparing to go public.

Cryptofirms have seen a surge of interest since President Donald Trump returned to the White House. So far this year, shares ofcryptogiants Coinbase and Strategyhave jumped 56% and 50%, respectively.

Grayscale, founded in 2013, manages over $33 billion of assets across more than 35 investment products.

A prominent player in thecryptospace, the Stamford, Connecticut-based company also oversees a leading spot bitcoin exchange-traded fund.

The company’s legal challenge against the SEC wasinstrumental in paving the wayfor 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 actuallisting.