Cryptocurrency exchange Kraken has made a confidential filing for an IPO with the Securities and Exchange Commission, as per a Business Wire press release.
The form S-1 filing offers no details yet on the size of the offering or the price range for the shares.
If carried out this year, Kraken’s IPO will be an addition to the debut of the following crypto firms in 2025: Circle Internet Financial, Figure Technologies, Fold, Exodus, and Galaxy Digital.
Kraken has carried out multiple initiatives this year to grow its operations and expand its presence across the globe, such as the launch of perpetual futures, the acquisition of capitalise.ai, million-dollar donations to U.S. pro-crypto groups Freedom Fund PAC and America First Digital, the rollout of U.S. tokenized stocks and ETFs to Europe and the successful close of $500 million funding round, which gave it a valuation of $15 billion.
Kraken was founded in 2011 by Thanh Lu, Michael Gronager, and Jesse Powell. As of now, the company is led by co-CEOs Arjun Sethi and Dave Ripley.