Core Viewpoint - Grayscale Investments has filed for an initial public offering (IPO) of its Class A common stock with the SEC, intending to list on the NYSE under the ticker symbol "GRAY" [1][3]. Company Structure - Grayscale will issue two classes of shares: Class A shares will have one vote per share and carry economic rights, while Class B shares will have ten votes each but no economic rights [4]. - Digital Currency Group (DCG), Grayscale's parent company, will maintain control through ownership of both share classes, classifying Grayscale as a "controlled company" under NYSE regulations [5]. IPO Proceeds and Structure - Proceeds from the IPO will be used to buy membership interests from existing members at the offering price, net of underwriting fees [6]. - The IPO will follow an "Up-C" structure, separating the public corporation from the operating LLC, which will not receive any proceeds from the sale [6]. Underwriting and Regulatory Status - Underwriters have an option to buy additional shares to cover over-allotments, and Grayscale qualifies as an "emerging growth company," facing lighter financial reporting requirements [7]. Industry Context - The digital asset space has seen increased momentum for crypto-related public offerings, with notable recent IPOs including tZero Group and BitGo [8]. - Circle, a stablecoin issuer, experienced significant success with its IPO in June 2025, surging more than sevenfold since going public [9].

Product Innovation - Grayscale introduces the first U_S_-listed spot crypto ETPs with staking for Ethereum and Solana [1] - The products include Ethereum Mini Trust ETF ($ETH), Ethereum Trust ETF ($ETHE), and Solana Trust ($GSOL), pending regulatory approval [1] - These ETPs offer investors exposure to ETH and SOL while earning staking rewards [2] Strategic Initiative - Grayscale's initiative represents "first-mover innovation" and leverages $35 billion in assets under management [2] - Staking will be handled through institutional custodians and a network of validator providers, supporting network security and long-term resilience [2] - Grayscale's staking ETPs aim to combine traditional brokerage access with exposure to long-term network growth [3]

Product Launch - Grayscale launched the first U.S-listed spot crypto ETPs with staking for Ethereum and Solana [1] - The products include Ethereum Mini Trust ETF ($ETH), Ethereum Trust ETF ($ETHE), and Solana Trust [1] Market Impact - The launch allows investors to access ETH and SOL while collecting staking rewards [1] - This marks a U.S first for spot crypto products [1]

Product Innovation - Grayscale unveils the first U.S-listed spot crypto ETPs that allow staking for Ethereum and Solana [1] - The products include Ethereum Mini Trust ETF ($ETH), Ethereum Trust ETF ($ETHE), and Solana Trust ($GSOL), pending regulatory approval [1] - These ETPs provide investors exposure to ETH and SOL while earning staking rewards, a first for U.S spot crypto products [2] Strategic Initiative - Grayscale's initiative represents "first-mover innovation" and leverages the platform's $35 billion in assets under management [2] - Grayscale's staking ETPs aim to combine traditional brokerage access with exposure to long-term network growth [3] - Staking will be handled through institutional custodians and a network of validator providers, supporting network security and long-term resilience [2]

📈📈📈 $ETH & $ETHE just became the first U.S. spot crypto ETPs to enable staking.$GSOL also enabled staking — pending approval, it could be the first Solana spot ETP with staking.Grayscale (@Grayscale):Today, Grayscale Ethereum Mini Trust ETF (Ticker: $ETH) and Grayscale Ethereum Trust ETF (Ticker: $ETHE) have become the first U.S.-listed spot crypto exchange-traded products (ETP) to enable staking, another first-mover milestone for the firm.Grayscale Solana Trust (OTCQX: https://t.co/45963Bn9UW ...

Crypto ETFs & Staking - Grayscale launched the first U_S_-listed spot crypto ETFs that enable staking [1] - The ETFs include the Ethereum Mini Trust ETF ($ETH) and Ethereum Trust ETF ($ETHE) [1] - Grayscale's Solana Trust ($GSOL) has also enabled staking, pending regulatory approval for uplisting to a spot Solana ETP [1]