Six Blockbuster Crypto IPOs to Watch in 2026
As the crypto industry further cements its presence on Wall Street, 2025 marked a milestone year with digital asset companies raising a remarkable $3.4 billion through initial public offerings (IPOs), according to data from DeFiLlama. This momentum shows no sign of slowing, as an even more substantial wave of high-profile crypto IPOs is on the horizon for 2026. Here are six major public offerings poised to shape the digital asset landscape in the coming year.
1. Kraken: Leading the 2026 Crypto IPO Pack
American crypto exchange Kraken is set to become the standout IPO in the digital assets sector next year. After filing an S-1 confidentially with the U.S. Securities and Exchange Commission (SEC) in November 2025, Kraken aims for a public debut in the first half of 2026. Kraken doubled its revenue to $1.5 billion in 2024 and achieved a $20 billion valuation in a late-stage funding round led by Citadel Securities. The company’s compliance-first approach—which includes obtaining a Markets in Crypto-Assets (MiCA) license in Europe and launching derivatives trading—has been central to its growth.
Diversified revenue streams, spanning staking services and NFT markets, make Kraken an attractive public option. Industry analysts regard it as one of the cleanest publicly listed exchanges, potentially rivaling Coinbase. Despite speculation, Kraken’s co-CEO Arjun Sethi has recently emphasized that the firm is not rushing its public debut, indicating a careful approach to its IPO.
2. Consensys: A Crypto Infrastructure Giant Goes Public
Consensys, the powerhouse behind MetaMask and Infura, is reportedly collaborating with JPMorgan and Goldman Sachs to pursue an IPO in mid-2026. The company is transitioning from a software studio model to a high-margin crypto infrastructure provider.
In 2025, MetaMask integrated native Bitcoin support, reinforcing its position as a leading multi-chain wallet. Boasting over 30 million monthly users and valued at $7 billion, Consensys offers investors exposure to pure crypto software, a rarity in public markets.
Expected filing documents are likely to emphasize MetaMask Swaps’ revenue and enterprise growth tied to Linea, Consensys’s layer 2 scaling network. This move highlights the growing importance of scalable and efficient infrastructure in the blockchain ecosystem.
3. BitGo: The First Major Crypto Custodian IPO
BitGo is preparing to become the first prominent crypto custodian to launch a public offering. Backed by Goldman Sachs, BitGo updated its S-1A filing in late 2025, with a target to list in Q1 2026 after prior delays due to the U.S. government shutdown.
The firm’s revenue has quadrupled over the last two years, fueled by its institutional custody services and regulated staking offerings. Currently valued at $1.75 billion, BitGo appeals to conservative investors seeking crypto infrastructure with minimized trading volatility risks.
BitGo’s strong compliance record and security-first ethos have earned it trust from banks and hedge funds wanting regulated crypto exposure without operational hazards, positioning it well for a successful IPO.
4. Animoca Brands: Web3 Gaming’s Nasdaq Debut
Animoca Brands plans to list on Nasdaq in 2026 through a reverse merger with Currency Group. Based in Hong Kong, Animoca boasts one of the largest portfolios in Web3 gaming, owning stakes in numerous tokenized games and metaverse projects.
In 2025, the company streamlined operations and sharpened its focus on digital property rights—a key part of its value proposition. The upcoming listing is viewed as an important test of market appetite for metaverse-related ventures and gaming token economics.
With an expected valuation near $6 billion, Animoca’s success depends heavily on monetizing its equity stakes and in-game economies while managing the complexities of tokenomics.
5. Ledger: Crypto Security’s Potential Superstar
Ledger is gearing up for a major funding round in 2026 as interest in crypto security solutions continues to rise. The French company, known for having sold over 6 million hardware wallets worldwide, has been repositioning itself as a full-stack self-custody platform through its Ledger Live app.
Ledger’s offerings now include recurring revenue streams such as seed phrase recovery, software integrations, and institutional device management. The company has also doubled down on enhancing wallet user experiences, particularly for mobile users.
By evolving beyond cold storage devices into a broader fintech service, Ledger aims to position itself as the “Apple of crypto security,” capitalizing on growing distrust of centralized platforms within the crypto community.
6. Bithumb: South Korea’s Crypto Exchange Returns to the Spotlight
Seoul-based Bithumb is targeting a public listing on South Korea’s stock exchange by the end of 2025, marking a rebound after years overshadowed by competitor Upbit. Following aggressive zero-fee promotions and increased marketing in 2024, Bithumb regained a 25% market share.
Samsung Securities has been appointed as the underwriter for Bithumb’s IPO. Although the exchange does not plan further international expansion, it is focusing heavily on localization, obtaining licenses, and boosting altcoin liquidity to strengthen its domestic position.
Analysts consider Bithumb’s IPO a critical indicator of South Korea’s crypto market health, where retail traders dominate and daily crypto volumes frequently surpass those of equities. With some 18 million crypto users nationwide, this listing could signal a new phase of institutionalization in Asia’s most retail-focused crypto ecosystem.
Looking Ahead
The crypto IPO landscape in 2026 promises to deliver a host of landmark public offerings, reflecting the maturation and diversification of the digital asset industry. From exchanges and infrastructure providers to security firms and gaming companies, investors will gain access to a broad array of crypto-native businesses with robust compliance and innovative growth strategies.
As Samantha Lewis, partner at early-stage venture fund Mercury Fund, noted to DL News, “The emerging crypto IPO pipeline points toward companies serious about risk and compliance, particularly those bridging traditional balance sheets with onchain markets.” This trend underscores the increasing institutional acceptance of crypto and the sector’s evolution into mainstream finance.
Lance Datskoluo is DL News’ Europe-based markets correspondent.
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