Grayscale Submits Application for US Initial Public Offering

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Nov 13 2025

Should l Buy FORM?

Grayscale's IPO Filing: Grayscale Investments has filed a registration statement with the SEC to go public, intending to list shares of its Class A common stock on the NYSE under the ticker symbol GRAY, with pricing determined through a directed share program.
Timeline for Approval: The registration statement is not yet effective, and it may take weeks to months for the SEC to approve it, especially following a recent government shutdown that limited the agency's operations.
Financial Performance: Grayscale reported a year-over-year decrease in net income, dropping from $223.7 million in September 2024 to $203.3 million in September 2025.
Other Crypto Companies' IPO Plans: While Grayscale moves forward with its IPO, other crypto-related companies like Ripple Labs and Kraken have not announced plans for public offerings, despite favorable conditions.

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Technical Analysis for FORM

Technical Sentiment Analysis for Formation Fi (FORM) As of , Formation Fi (FORM) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for FORM stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, FORM is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Formation Fi (FORM) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0816	0.138	0.19	0.247	0.299	0.356	0.408
Fibonacci	0.138	0.179	0.205	0.247	0.288	0.314	0.356

About FORM

BinaryX ($BNX) is the platform cryptocurrency for the BinaryX ecosystem, which includes the DAO and all products & games utilizing $BNX. BinaryX began as a decentralized derivative trading system. Recognizing the burgeoning popularity of GameFi and interest in the metaverse games, the team gradually evolved into developing decentralized video games and is now fully transitioning to be a GameFi platform offering IGO services to bridge Web2 developers to Web3.Some of the services provided by BinaryX includes infrastructural support, a DAO governance system, and community building to scale promising gamefi projects and bring more innovation to the blockchain gaming sector.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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