Analysts expect crypto companies to try and go public before the midterm elections next year
[BENGALURU] Kraken, one of the world’s largest cryptocurrency exchanges, said on Wednesday (Nov 19) that it has confidentially filed for an initial public offering in the US, as digital asset companies look to tap the new listings market before the 2026 midterm elections.
Companies such as stablecoin issuer Circle and crypto exchange Gemini have seen renewed success in going public in the US this year under a crypto-friendly Trump administration.
The announcement comes a day after Kraken said it was valued at US$20 billion in its latest fundraising, a 33 per cent increase in under two months.
Analysts expect crypto companies to try and go public before the midterm elections next year, which could reshape the landscape for the digital asset industry.
Crypto-focused asset manager Grayscale and custody startup BitGo are among the companies currently in the IPO pipeline.
US President Donald Trump, who has pledged to make America the “crypto capital of the world”, signed the Genius Act into law earlier this year. Other measures, such as the proposed Clarity bill, aimed at establishing a regulatory framework, have also buoyed sentiment in the digital asset sector.
Founded in 2011, Kraken said that the number of shares to be offered and the price range have not yet been determined. Its clients can trade more than 450 digital assets, fiat currencies, and traditional assets. REUTERS
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