Kraken

Cryptocurrency exchange Kraken is aiming to raise $500 million with a $15 billion valuation, Reuters reported. While the exact timeline for the IPO is still unclear, the company has confirmed that the major event is planned for 2026.

 Kraken now joins a growing list of crypto companies raising capital in the later stages of preparation for a potential public offering.

Asset manager Grayscale and crypto custodian BitGo have confidentially filed for an initial public offering in the U.S. in recent weeks. The exchange Bullish, linked to Peter Thiel, also filed for an IPO in June, following Circle's successful listing on the New York Stock Exchange.

In March, Kraken announced its acquisition of futures platform NinjaTrader for $1.5 billion "as part of expanding its operations in the derivatives space and a broader range of trading products."

 
Earlier, in October 2024, the company underwent a restructuring, which resulted in Tribe Capital co-founder Arjun Sethi becoming a co-CEO. Kraken also began disclosing its financial performance, reporting $1.5 billion in revenue for 2024 and approximately $472 million in Q1 2025.