Kraken Seeks $500M Funding at $15B Valuation Ahead of Rumored 2026 IPO

Crypto exchange Kraken is reportedly seeking to raise $500 million at a $15 billion valuation as it prepares for a potential public offering in 2026. The Information reported the funding plan on Tuesday, citing sources familiar with the matter. Kraken was last valued at about $11 billion in 2022. In March, Bloomberg reported that Kraken was targeting a public debut as early as the first quarter of 2026, citing a more favorable regulatory environment under the Trump administration. The company could benefit from the recent boom in initial public offerings, which has generated significant capital for trading platforms such as eToro and stablecoin issuer Circle Internet Group. Currently, Kraken has approximately $1.37 billion in daily trading volume and offers more than 1,100 trading pairs, according to CoinGecko. This is about half the volume of its main U.S.-based rival Coinbase, which has $2.77 billion in daily volume and 448 trading pairs. Kraken did not immediately respond to requests for comment.

Shares in Crypto Companies See Big Gains

Crypto companies have experienced major gains in 2025 as Bitcoin continues to reach new highs and investors seek exposure to the sector. Circle, the issuer of USDC stablecoin, completed a $1 billion public offering in early June and began trading on the New York Stock Exchange at $31 per share. Since then, its stock has surged over 484%, closing Tuesday above $181. Trading platform eToro, which offers both stock and crypto trading, debuted on Nasdaq in May at $52 and has risen more than 16.5%, closing recently at $60.71. Coinbase, which went public in 2021, has gained 50% since the start of the year. Robinhood Markets, a stock and crypto trading platform, has surged 162% so far in 2025.

More IPOs Following Regulatory Green Light

Kraken is among several crypto companies eyeing public listings amid a wave of crypto-friendly regulations and the dismissal of regulatory lawsuits in the U.S. The Securities and Exchange Commission dropped its long-running securities violation lawsuit against Kraken in March, part of a broader trend of the regulator abandoning complaints against crypto firms under President Donald Trump. Other companies that have gone public or announced plans include fintech firm Ripple, crypto exchange Gemini, digital asset firm Galaxy Digital, Grayscale, and Bullish, a crypto exchange backed by Peter Thiel.

Kraken Expanding Into Europe

In June, Kraken launched a peer-to-peer payments app called “Krak,” enabling users to send fiat and cryptocurrency across borders. The company also announced it secured a license under the European Union’s Markets in Crypto-Assets (MiCA) framework, allowing it to expand its offerings across the EU.

Frequently Asked Questions (FAQ)

Q: What is Kraken's current valuation and funding goal? A: Kraken is reportedly seeking to raise $500 million at a valuation of $15 billion. Q: When is Kraken planning to go public? A: Kraken is targeting a public debut as early as the first quarter of 2026. Q: How does Kraken's trading volume compare to Coinbase? A: Kraken has approximately $1.37 billion in daily trading volume, while Coinbase has $2.77 billion in daily volume. Q: What regulatory changes might benefit Kraken's IPO? A: A more favorable regulatory environment, potentially under the Trump administration, and the dismissal of regulatory lawsuits against crypto firms are seen as beneficial. Q: In which regions is Kraken expanding its services? A: Kraken has recently expanded its offerings in Europe, securing a license under the EU's MiCA framework and launching a peer-to-peer payments app called "Krak."

Crypto Market AI's Take

The news of Kraken's potential $15 billion valuation and 2026 IPO signals a continued maturation of the cryptocurrency exchange market. As regulatory landscapes become clearer, particularly with the U.S. showing a more accommodating stance towards crypto firms, established players like Kraken are well-positioned to leverage this environment. This aligns with the broader trend of institutional adoption and increased investor confidence in digital assets. Our platform, Crypto Market AI, is dedicated to providing the market intelligence and advanced tools necessary to navigate such evolving dynamics. We offer insights into company performance, market trends, and regulatory impacts, empowering users to make informed decisions in the rapidly growing crypto space. Our AI-powered trading bots are designed to help traders capitalize on market opportunities with sophisticated algorithms and automated execution, mirroring the strategic initiatives of major exchanges.

Kraken seeks 00M at 5B valuation ahead of rumoured 2026 IPO: Report