Six Blockbuster Crypto IPOs to Watch in 2026
As the crypto industry continues its rapid evolution, 2025 saw a surge in initial public offerings (IPOs) from digital asset companies, raising a remarkable $3.4 billion on Wall Street. Building on this momentum, 2026 promises an even more impressive wave of major crypto IPOs. According to data from DefiLlama and industry insights, several well-known crypto firms are gearing up for public listings in the coming year, signaling growing investor confidence and a maturing market.
Crypto’s Bold Entry into Public Markets in 2025
In 2025, the crypto sector made significant strides with high-profile IPOs from companies such as Circle, Bullish, Figure, and Gemini. Both Circle, a prominent stablecoin issuer, and Bullish, a trading platform backed by investor Peter Thiel, attracted over $1 billion each in public offerings. These successes showcased the appetite among investors to gain exposure to the burgeoning digital asset ecosystem.
Looking ahead, experts predict that 2026’s IPO candidates will focus heavily on companies implementing rigorous risk management and compliance measures while bridging traditional finance with on-chain markets. Samantha Lewis, partner at Mercury Fund, highlighted that the emerging pipeline primarily consists of crypto infrastructure firms facilitating capital flows between conventional balance sheets and blockchain networks.
Top Six Crypto IPOs to Watch in 2026
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Kraken
U.S.-based cryptocurrency exchange Kraken is positioned to headline the 2026 crypto IPO landscape. After filing an S-1 registration confidentially with the SEC in late 2025, Kraken is aiming for a public debut in the first half of 2026. The exchange has doubled its revenue to $1.5 billion in 2024 and secured a $20 billion valuation in a recent funding round led by Citadel Securities. Kraken’s compliance-focused approach—including acquiring a MiCA license in Europe and launching derivatives trading—sets it apart as one of the cleanest public alternatives to Coinbase. The firm’s diversified revenue streams span staking and NFTs, appealing broadly to investors. Though Co-CEO Arjun Sethi previously indicated no rush for an IPO, market conditions appear favorable for Kraken’s listing. -
Consensys
Known for operating industry-leading blockchain software such as MetaMask and Infura, Consensys is reportedly collaborating with JPMorgan and Goldman Sachs to pursue an IPO in mid-2026. Transitioning from a software studio to a high-margin infrastructure provider, the company has expanded MetaMask’s capabilities, including native Bitcoin support added in 2025. With over 30 million monthly users and a valuation near $7 billion, Consensys offers investors direct exposure to crypto software innovation. Their IPO prospectus is expected to highlight revenue growth from MetaMask Swaps and enterprise traction related to Linea, their layer 2 scaling solution. -
BitGo
BitGo is on track to become the first major crypto custody provider to go public. Backed by Goldman Sachs, the firm filed an updated S-1A in late 2025 aiming for a first-quarter 2026 listing following delays from a U.S. government shutdown. BitGo’s revenue has quadrupled over the past two years, supported by institutional custody services and regulated staking products. Valued at $1.75 billion, the company appeals to investors looking for infrastructure plays insulated from trading volatility. BitGo’s emphasis on security and regulatory compliance has made it a preferred choice among banks and hedge funds seeking crypto exposure without operational risks. -
Animoca Brands
Hong Kong-based Animoca Brands, a leader in the Web3 gaming and metaverse space, is expected to go public on Nasdaq in 2026 via a reverse merger with Currenc Group. The company holds stakes in numerous tokenized games and virtual environments, positioning itself as a major player in digital property rights and in-game economies. After streamlining operations in 2025 and refocusing on its core value proposition, Animoca’s $6 billion valuation depends heavily on its ability to monetize equity stakes and navigate complex tokenomics. This IPO will serve as a key barometer of investor appetite for gaming-linked cryptos and metaverse assets. -
Ledger
Ledger, the French maker of hardware wallets, plans a major funding round in 2026 as crypto security gains increased attention. Having sold over 6 million wallets globally, Ledger has evolved into a full-stack self-custody platform with its Ledger Live app. New offerings include seed phrase recovery services, software integrations, and institutional device management. The company also expanded its business-to-business deals and improved user experience for mobile customers in 2025. With growing demand for self-custody solutions and skepticism towards centralized platforms, Ledger aims to be recognized as the “Apple of crypto security” by combining trusted hardware with fintech innovation. -
Bithumb
South Korea’s Bithumb exchange plans to go public by the end of 2025, marking its return to prominence in the country’s competitive crypto market. Bithumb regained a 25% market share in 2024 through aggressive zero-fee promotions and increased marketing, selecting Samsung Securities as its IPO underwriter. Once the nation’s largest exchange, Bithumb was overshadowed by Upbit due to hacks and Upbit’s partnerships with banks. Now, it is focusing on local compliance, licensing, and deepening altcoin liquidity. Although not targeting international expansion, Bithumb’s IPO is widely regarded as a key indicator of South Korea’s domestic retail-driven crypto market, which boasts 18 million active users and daily volumes that often surpass equity trading.
Conclusion
The anticipated wave of crypto IPOs in 2026 underscores the sector’s growing maturity and institutional acceptance. These six firms exemplify different facets of the ecosystem—from exchanges and custody providers to software infrastructure and gaming platforms—each offering unique investment opportunities tied to digital assets’ expanding role in global finance. As regulatory clarity improves and compliance becomes paramount, these IPOs are expected to attract significant attention, potentially shaping the crypto landscape for years to come.
Lance Datskoluo is DL News’ Europe-based markets correspondent. For tips or inquiries, reach him at [email protected].