Leading cryptocurrency exchange Kraken is preparing for an initial public offering (IPO) next year, according to a report from Bloomberg.
The IPO is slated to happen during the first quarter of 2026. The timing seems impeccable as it comes amid the Trump administration’s uber pro-stance on digital assets.
Kraken To Go Public After Doubling Its Revenue In 2024
The San Francisco-based crypto exchange reported $1.5 billion in revenue for 2024, over double of the previous year’s $671 million. Kraken’stiming for a potential IPO comes after it ended the year with 2.6 million funded accounts and $42.8 billion in assets held across its platform.
It communication with Bloomberg News, Kraken stated; “We recently disclosed 2024 financial highlights to be more transparent about our business, which is something we started by being first to publish proof of reserves, and we’re going to continue to prioritize going forward.”
The crypto exchange ended its dialogue with Bloomberg by saying, “We’ll pursue public markets as it makes sense for our clients, our partners and shareholders.”
In recent times, Kraken has been expanding from simply being a crypto exchange. In October 2024, it launched kBTC, a wrapped Bitcoin token native for its platform.
Around the same time, the firm announced the launch of Ink, a blockchain being built on Optimism’s Superchain. Kraken stated that the goal is to provide decentralized finance (DeFi) to a wider audience. Ink will be used for DeFi trading, borrowing, and lending.
Kraken Hoping To Follow In The Footsteps Of Coinbase, The First Crypto Exchange To Hit The Stock Market
Huge day for crypto with the Coinbase IPO set for the Nasdaq. 1Q21 performance is incredible. $1.8b top line with 56m users.
Reference listing price of $250 implies a $65bn valuation but FTX pre-IPO contracts are well over $500, pointing to a massive first day pop
pic.twitter.com/qUCcQsQvKh
— Koshiek Karan (@iamkoshiek) April 14, 2021
By going public, Kraken, one of the world’s biggest crypto exchanges, would join the likes of Coinbase, which went public in April 2021.
Coinbase skirted the traditional IPO process, and listed its stock, COIN, directly. This allowed employees and existing shareholders to sell shares immediately at a market-based price.
By going the route of a direct listing, Coinbase followed tech companies like Spotify, Slack and Roblox. Those three also listed directly and helped normalize the process.
April 14, 2021 was the date Coinbase became a public company on the Nasdaq exchange via a direct stock listing. Excluding options and restricted stock units, the leading crypto exchange closed its opening day with a market cap of about $62 billion.
The shares opened at $381 and quickly shot up as high as $429.54, before dropping back below the debut price and reaching a low of around $310.
In January 2023, COIN was on life support, going as low as $33,26, per Yahoo Finance. As the crypto market began to show signs of life, so did COIN and it rebounded incredibly. In December 2024, it tapped $343, before sliding to its current price of $217.
Kraken will be hoping for similar success to that of Coinbase, albeit without the 90% drawdown during the peak of the bear market.
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Kraken exchange aiming to go public IPO in 2026
- Kraken eyeing Q1 2026 for its IPO
- The firm are eyeing the best time to launch its IPO
- Good timing from Kraken with Donald Trump’s administration going all in on crypto
- Kraken will be hoping for a similarly successful launch to that of Coinbase, the first crypto firm to go public
The post Crypto Is Down But We’re IPO Boys Now: Everything to Know About Kraken IPO 2026 appeared first on 99Bitcoins.
