- Grayscale’s confidential IPO filing shows it is serious about going mainstream while rebalancing funds to reflect today’s crypto trends.
- Polkadot exits Grayscale’s GSC Fund as Hedera and other rising players gain more weight in response to shifting market sentiment.
- Grayscale’s strategic fund reshuffling and IPO plans hint at long-term growth while maintaining strong exposure to DeFi and AI tokens.
Grayscale Investments has submitted a confidential application for an initial public offering (IPO) in the United States. The company sent a draft Form S-1 to the SEC on July 14, 2025. When the regulatory assessment is over and the market is ready, the IPO will begin, though pricing and share numbers are still up in the air. In order to reflect market realities, Grayscale is rebalancing its portfolio across its main products during this busy quarter.
Strategic Fund Adjustments Reflect Market Trends
Besides the IPO news, Grayscale has updated its DEFG, GSC, and AI Funds based on Q2 reviews and index methodologies. For DEFG, the firm sold existing components and added Ondo (ONDO), which now represents 18.22% of the fund. Uniswap (UNI) and Aave (AAVE) continue to dominate with 34.01% and 30.74% respectively.
Meanwhile, the GSC Fund underwent changes. Polkadot (DOT) was removed, and Hedera (HBAR) was introduced at a 5.80% allocation. Ethereum (ETH) and Solana (SOL) now make up nearly 60% of the fund, with Cardano (ADA), Sui (SUI), and Avalanche (AVAX) rounding out the portfolio.
AI Fund Recalibrates While Preparing for IPO Exposure
Grayscale also rebalanced its AI Fund, adjusting all components proportionally without adding or removing assets. Bittensor (TAO) and NEAR Protocol (NEAR) lead the fund with 29.10% and 28.41% allocations. Render (RENDER), Filecoin (FIL), and The Graph (GRT) complete the lineup.
None of these funds produce income. Grayscale redistributes fund components to cover operational costs. Hence, the number of underlying assets per share declines gradually over time.
Additionally, the private IPO filing indicates Grayscale’s intention to reach a wider audience and draw in institutional investors. The approval of this IPO could mark a turning point in the history of cryptocurrency finance.
