Core Insights - Grayscale Investments is expanding its management team and Board of Directors to support its growth in the digital asset space [1][2] - The company now manages over $35 billion in assets across more than three dozen products, including Bitcoin and Ethereum ETFs [4][5] Management Team Expansion - New appointments include Diana Zhang as COO, Ramona Boston as CMO, Andrea Williams as CCO, and Maxwell Rosenthal as CHRO, all reporting to CEO Peter Mintzberg [2][3] - The management team brings extensive experience from respected financial institutions, enhancing Grayscale's operational integrity and innovative investment strategies [3] Board of Directors Changes - Barry Silbert returns as Board Chairman, succeeding Mark Shifke, who remains on the Board [2][4] - The Board expansion reflects Grayscale's evolution into a scaled platform, with plans to include independent directors [2][4] Strategic Vision - Silbert emphasizes the importance of operational infrastructure and long-term positioning in the digital asset ecosystem [5] - Grayscale aims to transform disruptive technologies into investment opportunities, having pioneered the first publicly traded Bitcoin and Ethereum investment vehicles [5][7]

Core Viewpoint - Grayscale Investments has confidentially submitted a draft registration statement on Form S-1 to the SEC, indicating plans for a potential public offering, with details on the number of shares and price range yet to be determined [1]. Group 1 - The registration process will occur after the SEC completes its review, subject to market and other conditions [1].

Core Insights - Grayscale Investments has announced updated fund component weightings for its various crypto investment products in connection with their second quarter 2025 reviews [1] Fund Adjustments - The Grayscale Decentralized Finance (DeFi) Fund (DEFG) has rebalanced its portfolio by selling existing fund components and purchasing Ondo (ONDO), which is now included in the fund [2] - The Grayscale Smart Contract Fund (GSC Fund) has removed Polkadot (DOT) from its portfolio and added Hedera (HBAR) following a similar rebalancing process [2] - The AI Fund has adjusted its portfolio by selling existing components and reallocating the proceeds, although specific new components were not detailed [3] Fund Component Weightings - As of July 3, 2025, the DEFG's fund components include: - Uniswap (UNI) 34.01% - Aave (AAVE) 30.74% - Ondo (ONDO) 18.22% - MakerDAO (MKR) 6.69% - Curve (CRV) 5.30% - Lido (LDO) 5.04% [6] - The GSC Fund's components include: - Ether (ETH) 30.22% - Solana (SOL) 29.87% - Cardano (ADA) 18.57% - Sui (SUI) 8.78% - Avalanche (AVAX) 6.76% - Hedera (HBAR) 5.80% - Bittensor (TAO) 29.10% - NEAR Protocol (NEAR) 28.41% - Render (RENDER) 17.34% - Filecoin (FIL) 16.38% - The Graph (GRT) 8.77% [7] Fund Objectives - The DeFi Fund aims to provide exposure to leading decentralized finance platforms through a market cap-weighted portfolio designed to track the CoinDesk DeFi Select Index [9] - The GSC Fund seeks to provide exposure to leading smart contract platforms through a market cap-weighted portfolio designed to track the CoinDesk Smart Contract Platform Select Capped Index [11] - The AI Fund focuses on providing exposure to protocols building decentralized AI services and solutions to centralized AI-related problems [16]

Regulatory Approval - SEC allows Grayscale Investments to offer an exchange-traded fund focused on Bitcoin, Ethereum, XRP, Solana, and Cardano [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39538 Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the ...

GRAYBUG VISION, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39538 (Exact name of Registrant as specified in its Charter) Delaware 45-2120079 (State or other jurisdiction of ...