Story Highlights
- Kraken plans to go public by early 2026, says Bloomberg.
- Regulatory shifts under Trump help Kraken restart IPO efforts.
- Kraken IPO could set a trend for other crypto firms.
Cryptocurrency exchange Kraken is reportedly preparing for an initial public offering (IPO) by the first quarter of 2026, according to Bloomberg. The company continues to advance its plans while taking advantage of rising favorability in U.S. regulatory conditions.
Crypto firm Kraken became one of multiple companies who encountered authority investigations by the U.S. Securities and Exchange Commission during Biden’s presidency. A regulatory change initiated by President Trump led the Securities and Exchange Commission to end its litigation against the cryptocurrency exchange. Regulatory developments allowed Kraken to restart its efforts for obtaining a public stock listing.
Kraken was established during 2011 and has obtained approximately $27 million through primary capital funding. The initial public offering plans for 2022 at Kraken encountered delays due to regulatory uncertainties. Kraken appears to have restarted its IPO pursuit as market conditions have improved. According to a Bloomberg, Kraken affirmed its commitment to pursue a public listing after considerations regarding its clients and partners and its shareholders are met.
Kraken earns 1.5 billion in 2024 boosting IPO hopes
The strong financial reports of Kraken serve as a key factor to help them pursue their plans for an IPO. The latest reports show that Kraken achieved $1.5 billion in revenue during 2024 corresponding to a 128% annual increase. Kraken achieved an adjusted EBITDA amount of $380 million at the same time its total assets under management reached $42.8 billion. The exchange maintained its position as a market leader by reaching 2.5 million funded accounts at year’s end.
If Kraken moves forward with a public listing it will set an important marker for cryptocurrency companies worldwide. As a result of this move, many firms will plan their initial public offerings throughout the upcoming years. In addition, market performance has become favorable enough that Kraken could move toward becoming one of the publicly traded crypto companies.
