According to reports from Reuters, Blockchain.com has confidentially filed for an initial public offering (IPO) in the United States, marking a significant development as digital assets markets show signs of a rebound after a choppy period. The Dallas-based crypto firm aims to list publicly this year, joining a thinning queue of 2026 debuts. The company has not disclosed shares or a price range for the offering, with the confidential filing kicking off a regulatory review process that usually takes at least two to three months and gives the company the option to move ahead with its listing plans when the market window opens for crypto firms. As reported by Bloomberg, the firm filed confidentially for a US IPO, joining a crypto listing wave as Kraken and Ledger paused their plans. On Thursday, the crypto exchange announced it submitted a draft registration statement with the US Securities and Exchange Commission, officially initiating the IPO process.
As reported by Reuters, Blockchain.com was co-founded by Ben Reeves, Peter Smith and Nic Cary in 2011 and its platform allows millions of users in more than 100 countries to invest in cryptocurrency. The firm has facilitated over $1.1 trillion in crypto transactions and employs 500 staff and has been profitable on an adjusted basis for three years. The company supports over 95 million wallets and 43 million confirmed accounts. The firm first weighed a public listing as early as 2022, with its valuation rising to $14 billion in the spring of that year. However, a 2023 Series E round left it valued at less than half of that. According to Reuters, the number of shares to be offered and the price range for the proposed offering have not yet been determined.
According to Reuters, sentiment in crypto markets has slightly improved in recent weeks amid constructive regulatory developments, with Bitcoin, the world's largest cryptocurrency, gaining about 20% in the past three months despite remaining 12% down this year. A U.S. Senate committee last week advanced long-awaited legislation to regulate cryptocurrencies, marking a landmark step for the bill. This regulatory progress comes after crypto markets have remained under pressure since October's record crash, with investor risk-off positioning stalling the pace of new listings across the sector. As reported by Bloomberg, Blockchain.com follows Bullish and Gemini Space Station, the Winklevoss brothers' venture, which went public in 2025 during a crypto rally.
As reported by Reuters, crypto asset manager Grayscale Investments took the wraps off its IPO filing in November, while crypto exchange Kraken announced a confidential New York IPO in the same month, though neither has since moved ahead with their listing plans. Hardware wallet maker Ledger has also paused its plans. Blockchain.com's bid therefore enters a more cautious public market than its predecessors faced, with pricing hinging on token recovery and listing-day appetite in the current market environment. According to Reuters, confidential filings allow companies to keep their finances under wraps until closer to the listing and prepare for IPOs away from public market scrutiny.
