Crypto hardware wallet manufacturer Ledger has enlisted Goldman Sachs, Jefferies, and Barclays to lead a U.S. initial public offering that could value the company at more than $4 billion as crypto custody becomes a critical infrastructure play for institutional investors. The deal could materialize as soon as this year, although plans remain subject to change, according to people familiar with the matter, as cited in a Financial Times report on Friday. The New York Stock Exchange listing plan adds Ledge ...

The crypto infrastructure firm raised $212.8 million through the sale of about 11.8 million shares. ...

(Corrects January 22 story to say BitGo received approval, not conditional approval to convert its state trust bank charter to a national charter ​in paragraph 11) By Atharva Singh and Arasu Kannagi Basil Jan 22 (Reuters) - BitGo hit a $2.59 ‌billion valuation after its stock opened 24.6% higher in their New York debut on Thursday, as investors ‌snapped up shares in 2026's first crypto IPO. The crypto custody firm's stock opened at $22.43 a share, above the $18 offer price. BitGo and some of its backe ...

Crypto wallet and custody provider BitGo filed for its U.S. initial public offering on Monday, seeking to raise as much as $200 million in an offering that could value the firm as high as nearly $2 billion.  The Palo Alto, California-based firm intends to offer around 11.8 million shares of Class A common stock at $15-17 per share, according to the filing. Shares will trade under the BTGO ticker via the New York Stock Exchange. “Since our founding, BitGo has been nothing if not transparent. All of our role ...

Kraken reportedly aims to list its shares on a US stock exchange as early as Q1 2026, joining Coinbase, Gemini, and Bullish on public markets. While Bitcoin and major altcoins trade sideways, money continues to flow into crypto equities and mergers, with $8.6 billion in crypto M&A deals recorded in 2025. This shift suggests that while token prices are cooling off, the business side of crypto is heating up again. (Source – CoinGecko, Kraken) While the Q1 2026 window is the goal for the Kraken IPO, the re ...

HashKey Holdings will list on the Hong Kong Stock Exchange. Credit: Simon Jankowski/NurPhoto via Getty Images. Key Takeaways HashKey Holdings could debut on the Hong Kong Stock Exchange as soon as this month. The crypto exchange operator is looking to raise at least $200 million in its IPO. HashKey is expected to become one of Hong Kong’s most valuable listed crypto companies. HashKey Holdings is preparing to start taking investor orders for its initial public offering (IPO) on the Hong Kong Stock ...

Core Insights - Grayscale Investments has filed for an IPO, marking a significant move for a crypto-native asset manager in 2023 [1][2] - The filing indicates a shift from private ownership to a public listing, with the company managing tens of billions in crypto assets [2][4] - The IPO reflects a more favorable regulatory environment for crypto asset managers in the US [4] Company Developments - Grayscale submitted a confidential IPO draft to the US Securities and Exchange Commission on November 13 [1] - The company manages multiple trusts and ETFs, including a flagship Bitcoin product, and the offering will depend on market conditions and regulatory approvals [2][4] - The firm had previously filed a confidential draft S-1 in July, and the recent confirmation suggests an acceleration of its plans [3] Market Context - Industry analysts project Grayscale's valuation to range from $30 billion to $33 billion [4] - The conversion of Grayscale's Bitcoin trust into a spot ETF has boosted institutional inflows and enhanced its public-market profile [4] - The IPO filing adds to a trend of crypto-sector listings, with Grayscale's scale making it the most closely watched among recent filings [6] Future Outlook - Market analysts expect the earliest listing window for Grayscale to be between late 2025 and early 2026 [3] - Investors are anticipated to look for formal S-1 details and regulatory feedback in the coming months [6] - Major hurdles remain, particularly regarding parent-company exposure through Digital Currency Group, which may influence investor sentiment [5]

Core Insights - Ripple Labs attempted to buy back $1 billion worth of shares at a valuation of $40 billion, up from $28 billion in June, but faced low participation rates from shareholders [1][2] - The surge in valuations reflects ongoing public market enthusiasm for crypto companies, despite fluctuations in cryptocurrency prices [2][3] - The crypto industry has seen significant IPO activity, with companies like Circle achieving substantial market caps and driving investor interest in pre-IPO stakes [5][6] Ripple Labs - Ripple's buyback attempt in September was unsuccessful, indicating a reluctance among shareholders to sell their stakes in promising companies [1][2] - The company's valuation increase to $40 billion suggests strong market confidence in its future prospects [1] Market Trends - The crypto market is experiencing a valuation frenzy, with several companies going public and analysts predicting further growth [3][4] - Institutional adoption and regulatory changes under the current administration are contributing to this bullish sentiment [4] IPO Performance - Circle's IPO in June was a significant success, with its stock price increasing by 93% in the first week and 300% from its listing price, leading to a market cap of $27 billion [5] - Other crypto companies like Bullish and Gemini have had mixed IPO results, but investor enthusiasm remains high for pre-IPO opportunities [6][7]

Core Insights - Blockchain.com is considering a US public listing through a SPAC deal, with Cohen & Company Capital Markets engaged as an advisor, though the status of discussions remains unclear [1][2] Company Developments - Since August 2021, Blockchain.com has aimed for a public offering, raising funds at various valuations, including $120 million in February 2021 and $300 million at a $5.2 billion valuation in March, peaking at $14 billion before adjusting to $7 billion after a $110 million raise in November 2023 [3] - To prepare for its public debut, Blockchain.com has expanded its leadership team, appointing Justin Evans as CFO and Mike Wilcox as COO, and adding Timothy Flynn and Landon Edmond to its board to enhance governance and regulatory expertise [4] Industry Trends - There is a strong momentum for public listings in the crypto sector, with firms like Circle, Bullish, and Gemini successfully going public in 2025 [5] - Blockchain.com has recently expanded its services into Africa, indicating its readiness for a public transition, which may occur this year or in 2026 [5][6] - The push for public listings by crypto firms suggests increasing investor confidence and regulatory clarity for US digital assets [6]

Core Insights - The crypto market experienced significant volatility due to heightened U.S.-China trade tensions and threats of new tariffs from President Trump, leading to a sharp decline in crypto stocks [2][3][4] Market Performance - On Friday, major crypto stocks such as Coinbase, Circle, Figure, and Gemini saw declines ranging from 5% to 12% as a result of the broader market selloff [2] - Coinbase's stock initially rose above $400 due to acquisition talks but ultimately fell over 16% before closing at $357 [4] - Circle, Figure, and Gemini also faced sharp declines, with closing prices showing CRCL down 11.66%, FGR down 12.20%, and GEMI down 8.30% [5] Trade Tensions - The U.S.-China trade war escalated with Trump's threat to impose a 100% tariff on all Chinese imports following new restrictions from Beijing on rare earth mineral exports [3] - The S&P 500 index fell by 2.96% from its morning high, reflecting the negative impact of tariff threats on market sentiment [3] Regulatory Uncertainty - The crypto industry faced additional challenges from a leaked proposal by Senate Democrats that would impose severe restrictions on DeFi in the U.S., causing backlash and highlighting a bipartisan rift in crypto regulation [8]