Six Blockbuster Crypto IPOs to Watch in 2026: A Glimpse Into the Future of Digital Assets
Crypto stormed onto Wall Street in 2025, raising a remarkable $3.4 billion through initial public offerings (IPOs), signaling robust investor appetite for digital asset businesses. Notable players like stablecoin issuer Circle, Peter Thiel-backed trading platform Bullish, blockchain lender Figure, and crypto exchange Gemini led the charge. Both Circle and Bullish secured over $1 billion each in their IPO rounds, marking a milestone year for crypto firms going public.
Looking ahead, the pipeline for 2026 IPOs appears even more promising, with several high-profile offerings anticipated. Industry experts highlight a trend towards companies focusing on risk management and regulatory compliance, aiming to bridge traditional finance with on-chain markets. Samantha Lewis, partner at early-stage venture firm Mercury Fund, points out that the emerging crypto IPO candidates primarily involve infrastructure firms facilitating capital flows between conventional balance sheets and blockchain ecosystems.
Here are six marquee crypto IPOs set to capture attention in 2026:
- Kraken
The United States-based crypto exchange Kraken is poised to headline the 2026 IPO calendar for digital assets. After confidentially filing an S-1 with the U.S. Securities and Exchange Commission (SEC) in November 2025, Kraken targets a public listing in the first half of 2026. The exchange doubled its revenue to $1.5 billion in 2024 and recently secured a $20 billion valuation backed by Citadel Securities in a late-stage funding round.
Kraken’s growth has been driven by a compliance-first approach, including obtaining a Markets in Crypto-Assets (MiCA) license in Europe and launching derivatives trading products. The exchange offers diversified revenue streams across staking, NFTs, and trading, earning it a reputation as one of the cleanest public crypto companies, positioned as an alternative to Coinbase. While Co-CEO Arjun Sethi has remained circumspect about the timing of the IPO, market watchers expect Kraken to make a significant splash.
- Consensys
Crypto infrastructure powerhouse Consensys is reportedly working closely with JPMorgan and Goldman Sachs on a mid-2026 IPO. Known for operating MetaMask — the widely-used Ethereum wallet — and Infura, a blockchain node infrastructure provider, Consensys is transitioning from a software studio to a higher-margin infrastructure services provider.
In 2025, Consensys enhanced MetaMask by adding native Bitcoin support, broadening the wallet’s multi-chain capabilities. With over 30 million monthly active users and a valuation around $7 billion, Consensys presents investors with a leading pure-play crypto software exposure. The forthcoming IPO filing is expected to emphasize revenue contributions from MetaMask Swaps and enterprise traction from Linea, their Layer 2 scaling network.
- BitGo
BitGo aims to become the first major crypto custodian to list publicly in 2026. The Goldman Sachs-backed firm recently filed an updated S-1A registration statement following delays caused by the U.S. government shutdown, targeting a first-quarter listing. BitGo’s revenues have quadrupled in two years, fueled by growth in institutional custody and regulated staking services.
Currently valued at approximately $1.75 billion, BitGo appeals strongly to investors seeking infrastructure companies insulated from the price volatility inherent in trading. Its emphasis on compliance and security has made it a preferred partner for banks and hedge funds seeking regulated crypto exposure without operational risks.
- Animoca Brands
Hong Kong-based Animoca Brands plans to go public on Nasdaq in 2026 through a reverse merger with Currency Group. The company has amassed one of the largest portfolios in Web3 gaming, holding stakes in numerous tokenized games and metaverse projects. During 2025, Animoca streamlined operations and focused its messaging on digital property rights as a core value proposition.
The IPO is widely viewed as a crucial test of investor appetite for metaverse-related ventures and exposure to gaming-linked tokens. Animoca’s anticipated $6 billion valuation will depend on its ability to monetize equity stakes and in-game economies effectively, while navigating complex tokenomics challenges.
- Ledger
Ledger, the French leader in crypto hardware wallets, is preparing a major funding round in 2026 as investor interest in crypto security intensifies. The company boasts sales of over 6 million hardware wallets globally and has repositioned itself as a full-stack self-custody platform through its Ledger Live app.
Ledger’s product ecosystem now includes recurring revenue services such as seed phrase recovery, institutional device management, and software integrations. The firm has also expanded business-to-business agreements and enhanced wallet user experience, particularly for mobile. Ledger aims to leverage growing skepticism towards centralized exchanges by positioning itself as the “Apple of crypto security.”
- Bithumb
Bithumb, once South Korea’s largest crypto exchange, is targeting a public listing on the Korean stock exchange by the end of 2025, signaling its resurgence after years overshadowed by competitor Upbit. The Seoul-based exchange regained a 25% market share in 2024 through aggressive zero-fee trading campaigns and increased marketing.
Samsung Securities has been selected as the IPO underwriter. Bithumb plans to focus on localization, licensing, and enhancing altcoin liquidity to solidify its domestic rebound, though it currently has no plans for international expansion. The listing will act as a barometer for Korea’s retail-driven crypto market, which has 18 million crypto users and often sees daily trading volumes surpassing those of traditional equities.
Conclusion
The surge of crypto IPOs in 2025 set the stage for a landmark year in 2026, with six standout companies — Kraken, Consensys, BitGo, Animoca Brands, Ledger, and Bithumb — poised to redefine the public markets’ crypto narrative. Their focus on compliance, infrastructure, security, and innovative digital experiences reflects maturation in the sector. Investors and market watchers should keep a close eye on these listings as they could shape the next growth phase for crypto assets worldwide.
Lance Datskoluo is DL News’ Europe-based markets correspondent. Tips and inquiries can be sent to [email protected].