thecoinrise.com
Kraken, one of the United States’ leading cryptocurrency exchanges, is reportedly seeking to raise $500 million in funding at a valuation of $15 billion. The move is part of the firm’s broader strategy to go public, with a potential listing targeted for as early as the first quarter of 2026, according to recent reports by The Information and Bloomberg.
The exchange was last valued at approximately $11 billion in 2022, and the new funding round comes as the crypto market enjoys renewed investor enthusiasm.
Kraken, which processes around $1.37 billion in daily trading volume and supports over 1,100 trading pairs, still trails behind Coinbase, its largest U.S. competitor, which handles about $2.77 billion in volume with 448 pairs.
IPO Momentum Grows in Crypto
The timing of Kraken’s capital raise aligns with a strong wave of successful initial public offerings (IPOs) in the crypto and fintech space. Circle Internet Group, the issuer of the USDC stablecoin, raised $1 billion in a public offering in June and has seen its stock skyrocket over 480% since debuting at $31.
Trading platform eToro, which listed on Nasdaq in May at $52, has also experienced gains, closing recently at $60.71 — a rise of more than 16%.
Meanwhile, Coinbase (COIN), which went public in 2021, is up 50% in 2025 alone. Robinhood Markets (HOOD), which offers both stock and crypto trading, has surged an impressive 162% year-to-date. Kraken’s reported IPO plans signal continued confidence in crypto’s investment potential, especially as the sector appears to be regaining favor among public markets.
Regulatory Shifts Encourage Kraken Expansion
Kraken’s ambitions are also buoyed by a friendlier U.S. regulatory climate. The Securities and Exchange Commission (SEC) dropped its long-standing securities violation lawsuit against Kraken in March, reflecting a broader trend of regulatory pullbacks under the current administration. Similar relief has been observed for other crypto firms, paving the way for more public listings.
Other prominent players exploring IPOs include Ripple, Gemini, Galaxy Digital, Grayscale, and Bullish — a digital asset exchange backed by Peter Thiel.
In June, Kraken launched “Krak,” a peer-to-peer payments app allowing fiat and crypto transfers across borders. The company further strengthened its European presence by securing a license under the EU’s MiCA framework, giving it the green light to expand operations across the continent.