Kraken has officially begun the process of going public, confirming that it has confidentially filed for an IPO with the U.S. Securities and Exchange Commission. The filing, submitted by Payward, Kraken’s parent company, marks a major step toward a stock market debut even as the crypto market remains volatile.
If approved, the IPO would allow Kraken to list its shares on a public exchange and open the door to a much broader investor base. For now, the company says key details are still undecided. In its announcement, Kraken noted that it has not yet set the number of shares it plans to sell or the expected price range. The offering will move forward only after the SEC completes its review and market conditions are suitable.
The filing follows a strong year for the firm. Kraken recently raised $800 million across two funding rounds, boosting its valuation to $20 billion. The exchange now joins a growing group of crypto companies aiming for public listings.
Grayscale applied in November to list on the New York Stock Exchange, and firms like Circle, Gemini, Bullish, and Figure Technologies have already made the jump. Circle’s debut stood out, jumping 120 percent on its first day.
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