Grayscale Investments is reportedly moving toward a public offering, following a recent legal victory against the SEC. The company filed a draft registration statement with the SEC, a preliminary step to going public, although they declined to comment further. Originally launched as the Grayscale Bitcoin Trust (GBTC) in 2013, the trust underwent an ETF conversion in January 2024. Despite $23 billion in net outflows, its assets under management remain around $22 billion, and Grayscale has launched a cheaper bitcoin ETF managing $5.3 billion. Experts like Dan Weiskopf note that Grayscale's established brand and scale may facilitate its acceptance on investment platforms. However, concerns about fee compression and competitive dynamics, especially against firms like WisdomTree and Bitwise, are highlighted. WisdomTree boasts a diversified portfolio and substantial AUM growth since its IPO in 1991. As the bitcoin market fluctuates, several other crypto firms are reportedly preparing to file for IPOs, marking a significant shift in the landscape of crypto investments.

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