Kraken crypto exchange is considering going public with an initial public offering (IPO) in early 2026. This information was first reported by Bloomberg, based on sources close to the company. However, Kraken may change its plans.
A spokesperson for Kraken mentioned that the company recently shared its financial highlights for 2024 to be more open about its business. They have a history of transparency, having been the first to publish proof of reserves. The spokesperson stated that Kraken will consider entering public markets when it benefits clients, partners, and shareholders.
In 2024, Kraken made over $1.5 billion in revenue. The company has been considering going public since 2021 and has looked into raising more than $100 million in a pre-IPO funding round in mid-2024.
Kraken is not alone in this pursuit. Other cryptocurrency firms like Gemini and eToro are also looking to go public. They are doing this at a time when the Securities and Exchange Commission (SEC) is more favorable towards crypto companies. The SEC would need to approve any plans for Kraken to go public.
