Grayscale files for IPO; is this bullish for Bitcoin?

I strongly believe a hated Bitcoin rally is drawing close and by this I mean a sharp run to $200-250k.

We've, so far, already touched $123k which is an over 100% price growth from a year ago. As of July 15, 2024, Bitcoin was at $60,815 according to coinmarketcap.com. It is quite impressive to look back on to see so much growth and it feels almost unreal that we doubled in price value in the last 365 days.

The big question now is mostly how far out are we from topping out? Are we likely to experience another price doubling before years end and what would be the catalyst behind this hated rally?

A lot of people are still waiting for an alt rally that just doesn't seem to come. Unlike Bitcoin, altcoins are significantly underperforming. With most coins seeming to have tapped out in late 2024 and early 2025, specifically during the Trump presidency rally.

BNB hit an all times high in December 4,2024 of $793.35, currently down about -14%.

SOL hit an all times high in January 19, 2025 of $294.33, currently down about -45%.

ETH has underperformed significantly, with no recent records of new highs as its last all times high dates back to 2021 at $4,891.70, currently down about -39.2%.

Of course, Ethereum (ETH) is arguably not the worst performing altcoin, only the most unexpected given its role and value capture in the industry. All markets data from Coinmarketcap.com highlights that BTC’s strong rally has yet to make way for altcoins to achieve significant price gains.

Notwithstanding, Bitcoin still remains bullish despite recent rallies, specifically due to broader industry adoption spanning growing ETFs, government involvements and traditional companies treasury setups.

Grayscale IPO plans: report

Cryptocurrency-focused asset manager and exchange-traded fund (ETF) issuer Grayscale joined a growing list of crypto companies seeking to launch IPOs in the United States.

For reference, there are 13 reported crypto-native companies (including Grayscale) seeking IPOs as of the time of writing.

In addition to Grayscale, we have Gemini, reported in June to have filed a confidential paperwork for its IPO. Bullish Exchange, Bitgo, Kraken, OKX, Bithumb, Bitkub, Blockchain.com and Antalpha have all been reported for filing for IPO, with more on the “expected lists” as various company and industry-wide operations, would suggest.

Some of these IPO filings came after Circle’s successful IPO which saw the company's stock surge 168% above their initial offer price, according to a New York Post report in June 05, 2025.

Moving on:

On Monday, Grayscale said it had filed to list its company shares with the Securities and Exchange Commission (SEC) under a new clause that enables confidential filings ahead of a final public offering.

Entering public markets would enable Grayscale to seek more funding opportunities through strategies such as public stock offerings, which was leveraged by Michael Saylor’s Strategy, or convertible note offerings, such as GameStop’s $2.25 billion offering from June 13.

Grayscale is the second largest bitcoin ETF issuer by assets under management (AUM) with reported $22.04 billion, according to data from Coinmarketcap.com. Closely following Grayscale is Fidelity with $21.35 billion in assets under management (AUM).

With that being said, an earlier report in May, 2025 shows that Grayscale generates as much as $268.5 million in revenue, annually, which is said to surpass all other ETFs combined revenue.

The question now is: Is a Grayscale IPO bullish for Bitcoin?

An initial public offering (IPO) offers Grayscale fresh funding to scale products, improve operations, potentially reduce ETF fees, and effectively reposition to lower outflows from GBTC.

A reduce fee could attract more capital injection, fueling more bitcoin purchases whilst also potentially limiting outflows which ensures price stability. While it's not conclusive what extent of price growth awaits, it's to be expected that fresh capital flows would follow a successful IPO.

Posted Using INLEO