Digital asset firms in the US are increasingly pushing for initial public offerings as the regulatory regime has become more friendly towards the industry, with crypto exchange Kraken and custody firm BitGo being some of the recent firms reportedly eyeing IPOs.
Crypto exchange Kraken is reportedly looking at a public listing as early as Q1 2026, while the crypto custody firm is mulling an IPO as early as the second half of 2025, Bloomberg reported on March 8, citing sources familiar with the matter.
The listing plans could still be subject to changes, the report added.
The firms join a series of digital asset firms weighing public listing, including the likes of crypto exchanges Gemini, Bullish Global, and stablecoin issuer Circle, per multiple media reports.
Hong Kong-based Web3 investment firm Animoca Brands, too, told DealStreetAsia in an earlier interview that the firm is considering the US as one of its preferred listing destinations besides Hong Kong and the Middle East.
The public listing momentum is largely driven by the US President Donald Trump’s push towards his earlier pledge of making the US the ‘crypto capital of the planet’.
So far, the industry has seen several significant moves by the Securities and Exchange Commission (SEC) including the rescission of SAB 121, a controversial accounting guidance that suggests financial institutions to reflect client crypto assets they hold as balance sheet liabilities; as well as the establishment of a new crypto task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets.
That was in sharp contrast with former President Joe Biden, whose administration had brought a series of regulatory clampdowns against the digital asset industry.
