**[Grayscale Publicly Submits IPO Application, Betting on Digital Asset Prospects and Seeking Compliance]** According to a report by Jinse Finance, Grayscale has publicly submitted an initial public offering (IPO) application, becoming the latest cryptocurrency-related company to test the public market amid the U.S. government's increasingly open stance on digital assets. Based on the documents submitted by the company to the U.S. Securities and Exchange Commission on Thursday, the crypto asset management firm reported revenue of $318.7 million and net income of $203.3 million for the nine months ending September 30. In comparison, revenue a year ago was $397.9 million, with net income of $223.7 million. The company had secretly filed for listing back in July. With the end of the U.S. government shutdown, IPO activity is expected to accelerate before the end of the year. Even so, considering the required waiting period and the holiday season, there are only a few weeks left on the 2025 calendar for potential initial listings. The documents reveal that Grayscale currently manages approximately $35 billion in assets and offers over 40 products, providing exposure to more than 45 tokens.