Breaking news! Grayscale Investments "secretly" submitted IPO documents to the SEC, preparing for listing.

On Monday (July 14), Grayscale Investments submitted a confidential S-1 registration statement to the SEC, taking an important step toward becoming a publicly traded company.

Such documents typically indicate a company's intention to go public. Following the rapid rise of Circle, the issuer of the world's second-largest US dollar stablecoin USDC, Grayscale is the latest cryptocurrency company in the wave seeking to go public, with Circle's stock price soaring 500% within just a few weeks of its listing.

In the documents submitted to the SEC, Grayscale has not disclosed key details such as the number of shares it plans to issue or the expected price range. The confidential filing process allows the company to work privately with the SEC to finalize these elements without having to publicly disclose them during the initial review period.

Grayscale's IPO application comes at a time of strong recovery in the cryptocurrency market, with Bitcoin prices breaking above $123,000, further increasing the company's appeal to retail and institutional investors.

Grayscale currently manages approximately $50 billion in assets and is known for its digital asset-based ETFs.

As one of the pioneers in the cryptocurrency space, Grayscale is considered a potential candidate for a successful IPO, which could take place as early as 2025 if it receives SEC approval.

This move not only marks an important milestone for Grayscale but also indicates the increasing maturity of the digital asset industry — opening the crypto investment market to a wider audience.