Grayscale Says SEC Proposal Could Spur US Token Offering Wave

US crypto projects have often raised capital offshore or excluded American investors because of uncertainty over when token sales fall under securities laws. Grayscale says a clearer Securities and Exchange Commission framework could reverse that pattern, giving issuers a more workable path to conduct token offerings domestically. That would matter not only for fundraising but also for public blockchains, where issuance, trading and other on-chain activity can generate sustained demand.

Grayscale’s head of research said the SEC proposal could unleash a new wave of US token offerings and draw issuers back on-chain, potentially benefiting networks including Ethereum and Solana. The measure remains a proposal, and the report provided no effective date, fundraising estimate or projected number of offerings. Its impact will depend on the final rules, eligibility requirements and how the SEC applies them to token issuers and market intermediaries.