Cryptus Exchange Kraken is seeking to raise $500 million at a valuation of $15 billion, Reuters reported. The exact timing of the IPO is not yet known, but the company said the important event will take place in 2026.
Now Kraken joins other crypto companies in raising late-stage capital in preparation for a potential public offering.
Asset manager Grayscale and cryptocurrency funder BitGo have both confidentially filed for initial public offerings in the U.S. in recent weeks. Peter Thiel-linked exchange Bullish also filed for an IPO in June, after Circle successfully listed on the New York Stock Exchange.
In March the stock exchange Kraken said it would acquire futures platform NinjaTrader for $1,5 billion «as part of its expansion into derivatives and a broader range of trading products.»
Earlier, in October 2024, the company underwent a restructuring that saw Tribe Capital co-founder Arjun Sethi become co-CEO. Kraken also began disclosing its financials, reporting revenue of $1,5 billion in 2024 and approximately $472 million in the first quarter of 2025.