Crypto exchange Kraken has taken a concrete step toward going public by submitting a confidential draft registration statement to the US Securities and Exchange Commission (SEC) in advance of a planned initial public offering (IPO).
It completes Ark Invest’s earlier prediction that US President Trump’s administration would open a gateway for firms like Circle to go public.
Kraken Takes First Step Toward Public Listing
According to an official press release, the San Francisco–based crypto exchange has confidentially submitted a draft registration statement on Form S‑1 with the US SEC for a proposed initial public offering of its common stock.
Sponsored
Sponsored
While the number of shares and pricing have not yet been determined, the IPO is expected to proceed once the SEC completes its review, subject to market conditions.
The move marks a significant step in Kraken’s growth and reflects the increasing intersection of crypto and traditional finance, as investors await further details on the exchange’s public debut.
It comes only months after Circle’s public listing, with the latest development effectively marking the fruiting of Cathie Wood’s Ark Invest’s prediction.
In late 2024, Ark Invest stated that it viewed the then-prospective Trump administration as favorable for crypto, potentially opening up IPO opportunities for firms like Circle and Kraken. As BeInCrypto reported, Ark Invest cited pro-crypto policies and SEC reforms easing regulatory constraints for the sector.
Consequently, this establishes a precedent demonstrating that crypto firms can transition to becoming publicly traded companies in the country.
In July, Kraken revealed plans to raise $500 million at a $15 billion valuation in its planned IPO. The plan succeeded in September, with the trading platform expanding into TradFi with xStocks platform and NinjaTrader acquisition. Hours ago, Kraken CEO Arjun Sethi revealed that the exchange had raised $800 million.
Once Kraken officially goes public, its stock, potentially ‘KRAK’ would join Coinbase’s COIN in the open market, which is already listed on stock exchanges.
Source: https://beincrypto.com/kraken-confidential-ipo-filing/
