Grayscale Investments on Thursday disclosed that it has filed with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO) of its common shares.
The company, which describes itself as the largest digital asset-focused investment platform in the world, said it will list its Class A common stock on the New York Stock Exchange under the ticker ‘GRAY’.
Grayscale did not reveal details about the number of shares it would issue and at what price range, noting that the IPO’s debut would depend on market conditions.
In its filing, the company disclosed that it generated net income of $203.3 million and revenue of $318.7 million for the nine months ended September 30, down from net income of $223.7 million on revenue of $397.9 million during the same period last year.
Grayscale, which was founded in 2013, manages about $35 billion in assets across more than 40 investment products, which includes a popular Bitcoin exchange-traded fund (ETF).
Morgan Stanley, BofA Securities, Jefferies and Cantor are the lead underwriters for the offering.