On December 29th, according to DL News, the cryptocurrency industry raised $3.4 billion through IPOs in 2025, and more high-profile listings are expected in 2026. Six IPOs to watch include:
Kraken is a US-based cryptocurrency exchange valued at $20 billion, with plans to go public in the first half of 2026.
Consensys, the developer of the MetaMask wallet, valued at $7 billion, is in the process of being established in partnership with JPMorgan Chase and Goldman Sachs.
IPOBitGo - the first publicly listed major crypto custody provider, focusing on compliance and security.
Animoca Brands, a Web3 gaming giant, is expected to go public through a reverse merger, with a valuation of approximately $6 billion.
Ledger – a hardware wallet manufacturer that has sold over 6 million devices and positions itself as the "Apple of crypto security".
Bithumb, a South Korean trading platform, has chosen Samsung Securities as its underwriter and plans to list in South Korea.
Analysts believe these IPOs reflect the maturation of the crypto industry, particularly in areas such as compliance, infrastructure, and security.
