Kraken Eyes Potential 2026 IPO After SEC Drops Legal Case

Kraken is exploring the possibility of going public with an initial public offering (IPO) targeted for the first quarter of 2026, according to sources familiar with the matter.

While this move is still under consideration, the company has not ruled out adjustments to its plans. Bloomberg was the first to report on the potential IPO.

In a statement, a Kraken representative emphasized the company’s commitment to transparency, highlighting its recent disclosure of 2024 financial figures. Kraken has a history of prioritizing openness, including its early publication of proof of reserves, and plans to maintain this approach in the future. “We will pursue public markets when it benefits our clients, partners, and shareholders,” the spokesperson noted.

The exchange, which achieved over $1.5 billion in revenue in 2024, has been contemplating an IPO since 2021. In mid-2024, Kraken also explored raising upwards of $100 million in a pre-IPO funding round.

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As the cryptocurrency industry moves closer to potential public listings, Kraken joins other firms like Gemini and eToro, which are also eyeing the prospect of going public.

This shift comes as the Securities and Exchange Commission (SEC) appears to adopt a more favorable stance toward crypto firms, following a change in the regulatory environment under the current administration.

Kraken’s IPO plans were further fueled by the SEC’s recent decision to drop its case against the firm concerning alleged violations of securities laws, which took place on March 3.

Alexander Stefanov