Grayscale’s IPO Filing Shows 20% Revenue Drop—But Analysts Say The Crypto Asset Manager’s Timing Could Still Be Perfect
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The crypto industry’s IPO window might be narrowing, and Grayscale Investments appears aware of the timing. The Stamford, Connecticut-based asset manager announced on Nov. 13 that its revenue has declined by 20%. Despite the drop, market watchers say the company’s decision to pursue a public listing now—potentially ahead of political headwinds—could prove strategically smart.
Grayscale reported net income of $203.3 million on revenue of $318.7 million for the nine months ended Sept. 30, down from $223.7 million in net income on $397.9 million in revenue during the same period last year. Despite the decline, the timing…
