Kraken Joins Mega IPO Wave With S-1 Filing Approval

Crypto firms amassed around $3.4 billion in IPOs in 2025, with Circle and Bullish each surpassing $1 billion, according to PANews via DL News.

Upcoming IPOs from Kraken, Consensys, and BitGo underscore robust investor interest, potentially reshaping the market landscape with significant financings slated for early 2026.

Kraken’s $20 Billion Valuation and IPO Strategy

Kraken, a major U.S.-based crypto exchange, filed a confidential S-1 with the SEC on November 19, 2025. The firm seeks to capitalize on increased interest in crypto IPOs after major offerings from companies like Circle and Bullish. Kraken plans to complete its listing in the first half of 2026.

The expected IPO aims to facilitate Kraken’s global expansion, regulatory licensing, and enhancement of its trading platforms. The company recently secured an $800 million funding, achieving a valuation of $20 billion.

“Payward, Inc. (dba ‘Kraken’) announced that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined.”

Crypto IPO Movements and Market Implications

Did you know? Kraken’s bid for a 2026 IPO mirrors the moves of Circle and Bullish, which successfully pulled off billion-dollar IPOs amid heightened interest in corporate crypto equity, underscoring institutional appetite.

Bitcoin (BTC) is currently priced at $87,950.86 with a substantial market cap of $1.76 trillion. Its recent trading volume reached $33.90 billion, reflecting a 154.68% increase. BTC’s price changed by -22.12% over the past 90 days, according to CoinMarketCap.

The Coincu research team indicates that such major IPO filings could lead to increased mainstream acceptance of cryptocurrencies and spur innovative financial products. Given the past interest in crypto IPOs, these filings suggest profound implications for regulatory landscapes and technological advancements in blockchain finance.