Preview of Six Major Cryptocurrency IPO Highlights in 2026, Led by Kraken, Consensys, BitGo

According to reports, in 2025, cryptocurrency companies raised $3.4 billion through IPOs, with Circle and Bullish each raising over $1 billion. The focus of 2026 IPOs will mainly be on compliant infrastructure companies.

Kraken: Submitted an IPO application to the SEC in November 2025, aiming to go public in the first half of 2026 with a valuation of $20 billion. With revenue reaching $1.5 billion in 2024, it is considered the most compliant listing route outside of Coinbase.

Consensys: The parent company of MetaMask and Infura, is preparing for an IPO with JPMorgan Chase and Goldman Sachs, planning to go public in mid-2026. MetaMask has 30 million monthly active users, with a company valuation of $7 billion, providing investors with pure cryptocurrency software investment opportunities.

BitGo: Has submitted an updated IPO application to the SEC, aiming to go public in the first quarter of 2026 with a valuation of $1.75 billion. Revenue has quadrupled in the past two years, focusing on institutional custody and compliance staking business.

Animoca Brands: Will go public on NASDAQ through a reverse merger with Currenc Group, with an expected valuation of $6 billion.

Ledger: A French hardware wallet manufacturer, is preparing for a major financing round in 2026, having sold 6 million devices and positioning itself as the 'Apple' of the cryptocurrency security world.

Bithumb: Plans to go public in South Korea by the end of 2025, with a market share rebounding to 25% in 2024, with Samsung Securities as the underwriter.

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