Crypto Exchange Kraken, Valued at $20 Billion, is Preparing for its IPO

With the US crypto exchange Kraken, the next well-known company in the blockchain industry is planning an IPO. Rumors about an IPO had already come to the public in July. In the meantime, the project is taking concrete form. Kraken submitted a corresponding application to the SEC yesterday. According to experts, it is now important for many companies to go public before the upcoming US elections in 2026.

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Crypto Exchange Kraken Prepares IPO

The popular US crypto exchange Kraken is preparing its IPO – secretly, as Reuters explains. Kraken is expected to become a publicly traded company before the US midterm elections.

Kraken joins the list of several US crypto companies that went public thanks to the new openness of the government under Donald Trump. Just a few months ago, Circle, Galaxy Digital and Gemini, among others, successfully completed their IPOs, triggering new confidence among crypto companies.

As early as the end of July, initial media reports suggested that Kraken would be planning the Initial Public Offering (IPO). So far, however, there had been no public signs of this. Thanks to Reuters’ latest report, the background is now known.

Accordingly, Kraken only submitted a confidential registration on Tuesday – it is said to actually be an S1 application, which is necessary for admission to a stock exchange.

According to Reuters, experts expect increased IPO applications from crypto companies in the USA. The midterm elections could decisively disrupt the current balance of power in the political landscape and thus stop the crypto-friendly approach of the Trump administration.

The next votes on Congress will take place in 2026. The upper and lower houses will be re-elected. In the country’s two-party system, the balance of power is usually relatively balanced. The opposition Democrats need three new seats in the lower house and five in the upper house to achieve a majority in each case.

Trading Platform Kraken Rises to 20 Billion US Dollars after Revaluation

The trading platform Kraken only announced new financial injections yesterday through several well-known investors. Accordingly, Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management and Tribe Capital participated. Kraken’s Deputy Managing Director Arjun Sethi also took part.

In another financing round, Citadel Securities provided the crypto exchange with 200 million US dollars. The investment followed a new valuation, according to which Kraken is now worth 20 billion US dollars. In July, the valuation was still 15 billion US dollars.

“We are pleased to support Kraken’s continued growth as it helps shape the next chapter of digital innovation in the markets,” said Jim Esposito, President of Citadel Securities.

CoinGecko ranks Kraken as one of the ten largest crypto exchanges in the world. The company states a 24-hour trading volume of 1.4 billion US dollars. Opened in 2011, it is already one of the veterans among the crypto exchanges.