Crypto exchange Kraken has confidentially filed for a U.S. IPO, aiming to tap the newly active listings market ahead of the 2026 midterm elections, as digital asset firms race to go public under a crypto-friendly regulatory climate.
The move follows Kraken’s latest fundraising, which valued the company at $20 billion — a 33% jump in under two months.
Other crypto firms, including Circle, Gemini, Grayscale, and BitGo, are also advancing IPO plans as the industry sees renewed momentum under President Donald Trump, who has pledged to make the U.S. the “crypto capital of the world.” Earlier this year, he signed the Genius Act, and the proposed Clarity bill is boosting sentiment across the sector.
Founded in 2011, Kraken has not yet determined the number of shares or price range for the IPO. The exchange allows clients to trade 450+ digital assets, fiat currencies, and traditional financial products.
Analysts expect many crypto companies to accelerate IPO timelines before potential political and regulatory shifts in 2026.