Grayscale Investments filed an S-1 form to the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of its common stock.

Grayscale noted that the number of shares to be registered and the proposed price range for the offering have not yet been determined. The company stated that the offering is expected to take place following the SEC’s review and is subject to market and other conditions.

Grayscale, a major cryptocurrency asset-manager known for its conversion of the Grayscale Bitcoin Trust (GBTC) and other crypto investment vehicles into exchange-traded funds (ETFs), moves toward public markets at a time of heightened institutional attention.

The filing comes amid a broader wave of crypto-native firms seeking U.S. public listings, following the successful IPO of stablecoin issuer Circle Internet Group ( CRCL ) and crypto exchange Bullish (BLSH) earlier this year.

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