Kraken Moves Toward Initial Public Offering (IPO) in 2026 as Crypto-Friendly Policies Expand

One of the biggest US bitcoin exchanges, Kraken, is getting ready to go public. The company intends to conduct an initial public offering (IPO) in early 2026, per a Bloomberg article. Since the specifics are not yet public, the story cites persons with knowledge of the matter who asked to remain anonymous.

A representative for Kraken, once known as Payward Inc., underlined the business’ dedication to openness.

“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. We’ll pursue public markets as it makes sense for our clients, our partners and shareholders.”

Crypto Firms Target Public Markets

Not just Kraken is a cryptocurrency company thinking about going public. According to reports, a number of digital asset companies are considering going public, a trend that has accelerated since Donald Trump was elected. The previous president’s endorsement of cryptocurrencies has prompted companies operating in the space to look for growth prospects.

Companies that have expressed interest in going public include exchanges Gemini and Bullish, stablecoin issuer Circle, and cryptocurrency custodian BitGo. These actions may also be made easier by changes in regulations brought forth by the Trump administration.

One example of this shift is the U.S. Securities and Exchange Commission (SEC) backing away from legal battles initiated during the Biden administration. Kraken recently announced that the SEC has agreed “in principle” to dismiss its lawsuit against the exchange.

According to Kraken, the lawsuit is being dropped “with prejudice, with no admission of wrongdoing, no penalties paid and no changes to our business.” The company has argued that the investigation was politically motivated and lacked merit.

Kraken’s revenue more than doubled in 2024, reaching $1.5 billion. However, it still trails behind Coinbase, the largest US-based exchange, which reported approximately $6.6 billion in revenue last year.

With regulatory changes and increasing institutional interest in crypto, Kraken’s IPO could mark a major milestone for the industry.