Silbert originally filed the S-1 registration statement form with the SEC on January 20 for the BIT, sponsored by his company, Grayscale Investments LLC. The proposed offering at the time was $500 million. He filed the first amendment to the BIT’s S-1 in March but did not alter the size of the proposed IPO. Then, on Thursday, Silbert filed Amendment No. 2 with the Commission. It revises the BIT’s proposed offering to $1 billion, indicating his confidence in the demand for the BIT.