Crypto IPO activity surged in 2025 as several firms tapped public markets, raising substantial capital, while overall deal volume climbed. Looking ahead, industry observers expect IPOs to accelerate in 2026, led by SpaceX and Kraken, with BitGo, Consensys, and Chainalysis also exploring listings.
Kraken is already filing with the SEC and is seen as the top crypto IPO to watch, following its $800 million raise at a $20 billion valuation. SpaceX plans a 2026 IPO that could raise over $30 billion and value the company above $1.5 trillion, potentially reshaping the trillionaire landscape.
Consensys is in talks with Goldman Sachs and JPMorgan for a listing that could exceed $10 billion in value, building on a 2022 fundraising round at a $7 billion valuation. Chainalysis and BitGo are also highlighted as likely candidates for 2026 IPOs, reflecting growing interest from crypto custody and analytics firms. As markets stabilize, corporate activity including IPOs is expected to continue, with high-profile deals like Coinbase’s Deribit buyout and Kraken’s NinjaTrader acquisition illustrating the sector’s ongoing consolidation.
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