Grayscale Submits Confidential IPO Filing to SEC as Bitcoin Tops $120K

Grayscale, a leading crypto-focused asset manager, has confidentially submitted documents to the U.S. Securities and Exchange Commission (SEC), Reuters reported on Monday.

The firm has potential plans for a public listing, as the asset manager positions itself to capitalize on renewed investor optimism and regulatory momentum in the United States.

This development comes as Bitcoin has surged past the $120,000 mark for the first time, buoyed by institutional interest and growing integration of digital assets into mainstream finance.

Grayscale hasn’t said what’s in its SEC filing, but the quiet move indicates hope that clearer rules will make it easier for crypto companies to list on the stock market.

Washington’s Crypto Week Drives Market Optimism

Grayscale’s submission also coincides with the start of “Crypto Week” in Washington, D.C., where lawmakers are expected to debate three key pieces of legislation to establish a more transparent regulatory framework for the digital asset industry.

The bills, viewed by analysts as potential catalysts for mainstream adoption, could pave the way for greater integration of crypto into the traditional financial system.

Trump’s Return Spurs Institutional Adoption

The crypto sector has experienced renewed momentum following President Donald Trump’s re-election. Trump has pledged to establish the U.S. as the “crypto capital of the world.”

Under his administration, SEC Chair Paul Atkins has taken steps to provide increased regulatory clarity—a sharp departure from previous leadership.

This policy shift has encouraged more firms to add Bitcoin to their corporate treasuries, reinforcing the asset’s role as both a store of value and a strategic financial instrument.

According to Reuters, a growing number of U.S.-based companies are aligning their balance sheets with crypto, showing that Bitcoin is increasingly being treated as a core asset rather than a speculative bet.

SEC Freezes Grayscale Digital Fund ETF Conversion

Earlier this month, the U.S. SEC abruptly froze the approval of the Grayscale Digital Large Cap Fund’s conversion into an exchange-traded fund, halting its launch just a day after the green light was given.

On July 1, the SEC’s Division of Trading and Markets approved the NYSE Arca’s proposal to list and trade shares of the Grayscale fund under an amended rule.

The approval came with accelerated status, indicating initial confidence in the product’s readiness for market. However, within 24 hours, the Commission exercised its right to review the decision, automatically staying the approval under Rule 431 of the SEC’s Rules of Practice.