According to reports from Bloomberg, Blockchain.com is targeting a $500 million U.S. IPO this year at a valuation between $4 billion and $6 billion. The London-based crypto brokerage has been discussing the potential deal with prospective investors as it works toward a public listing, with the company prepared to consider raising less than $500 million if reducing the size helps move the deal forward. The figures are described as a target rather than a completed filing, so both the raise size and the valuation band could move before any listing prices. As of September 29, 2026, Blockchain.com has not published its own confirmation of the terms, and the range itself, $4 billion to $6 billion, is wide enough to signal that pricing is still an open question. According to people familiar with the discussions, Blockchain.com is telling investors it wants to list this year, seeking roughly $500 million and a valuation between $4 billion and $6 billion, with the company open to a smaller raise if needed.
As reported by Bloomberg, a listing at the top of the reported range would still value Blockchain.com at less than half the $14 billion figure attached to its Series D financing in March 2022. The company's valuation fell during the crypto downturn, with Bloomberg reporting in November 2023 that Blockchain.com raised $110 million in a Series E round led by Kingsway Capital at less than half its former $14 billion valuation. The potential $4 billion to $6 billion IPO valuation would therefore fall within the range seen after the 2022 market decline instead of restoring the private valuation reached during the previous crypto cycle. However, the timing appears more favorable as Bitcoin has climbed 33% since mid-August after a steep drop about a year ago, creating a more positive market environment for crypto-related public offerings. A successful debut would test institutional appetite following a turbulent cycle for retail-facing crypto listings.
According to Bloomberg, the potential Blockchain.com IPO moved into the regulatory process earlier this year when the company confidentially submitted draft registration documents to the U.S. Securities and Exchange Commission in May. The confidential filing allows the company to begin discussions with SEC staff before making its prospectus available publicly, though it does not guarantee an IPO will proceed. As reported by crypto.news, the company had not published a public Form S-1 for the proposed listing as of September 29, with financial statements and revenue figures remaining unavailable due to the confidential nature of the submission. According to people familiar with the process, Blockchain.com has generated adjusted profits for the past three years, providing a stronger financial foundation for its public offering. Supported by three consecutive years of adjusted profitability, Blockchain.com is attempting to capitalize on a broader market rebound that has seen Bitcoin recover 33% since mid-August.
According to Blockchain.com's website, the company has processed more than $1.1 trillion in transactions and raised $537 million in equity capital. Its businesses span retail crypto trading, wallets, institutional services, custody, over-the-counter trading and digital-asset infrastructure. The company's app reportedly has more than 44 million confirmed accounts. On September 23, Blockchain.com and NYSE Group announced an agreement to explore access to tokenized U.S.-listed stocks and exchange-traded funds through NYSE's planned digital trading platform, subject to regulatory approvals. The company started in 2011 when three participants from the first Bitcoin online forum, BitcoinTalk.org, began tracking Bitcoin blockchain activity, then added a wallet and later an exchange. The initiative marks a renewed push toward the public markets after previously weighing a listing in 2022.
As reported by crypto.news, Blockchain.com is entering a public-market environment where several recent crypto listings have lost much of their early trading gains. The performance of earlier listings contributed to companies reconsidering their timetables, with crypto.news examining sharp declines across the 2025 and 2026 crypto IPO class in July, finding that Gemini had fallen 89% from its opening trade, while BitGo was down 77% and Bullish roughly 71%. Etoro Group Ltd. has also struggled, falling about 50% since its public debut. Kraken parent Payward Inc. is also eyeing a listing, though Bloomberg News reported in May that its timeline has decelerated and the debut might not come until 2027. Blockchain.com is reportedly planning to become the latest crypto infrastructure business to test appetite on public markets, adding to this wave of crypto firms testing public markets. This year has been particularly quiet for crypto IPOs, following several prominent listings in 2025, such as stablecoin issuer Circle, with a depressed crypto market throughout the first half of 2026 prompting some companies to delay their plans.
