By Key Points
- Crypto IPO Wave Gemini Kraken and BitGo Plan Public Listings
- Trump’s pro-crypto stance fuels IPO plans for Gemini and Kraken.
- Gemini confidentially files for IPO after SEC clears investigation.
- Kraken eyes early 2026 IPO, benefiting from a regulatory shift.
- BitGo also considers going public in late 2025.
The crypto industry is witnessing a resurgence in IPO activity, fueled by President Donald Trump’s strategic Bitcoin reserve policies. With regulatory clarity improving, major crypto firms like Gemini, Kraken, and BitGo are eyeing public listings.
Gemini, the exchange founded by Cameron and Tyler Winklevoss, has taken the first step by confidentially filing for an IPO. Reports suggest that the exchange is working with financial giants Goldman Sachs and Citigroup to make its public debut as soon as this year.
#Crypto exchange giants, Kraken and Gemini prepare for IPO as other exchanges rush to go public! pic.twitter.com/y7v2hnjJzw
— The Moon Show (@TheMoonShow) March 8, 2025
A major roadblock was recently removed when the U.S. Securities and Exchange Commission (SEC) closed its investigation into Gemini without pursuing enforcement action. This regulatory clearance gives the exchange a green light to proceed with its IPO ambitions.
The Winklevoss twins have also been actively involved in shaping crypto policy, even attending a White House Crypto Summit under Trump’s administration. Their financial backing of Trump’s campaign further underscores their alignment with the current administration’s pro-crypto stance.
Gemini’s IPO could set the stage for more crypto firms to follow suit, signaling a broader trend of crypto firms embracing public markets.
Get ready for a potential shake-up in the crypto world! Whispers are turning into announcements as leading cryptocurrency exchange Kraken reportedly sets its sights on a public offering. #Cryptoexchange #CRYPTOCURRENCY #finance #IPO #KRAKENhttps://t.co/5BAmeRiBhN pic.twitter.com/j0LSTIGe10
— BitcoinWorld Media (@ItsBitcoinWorld) March 7, 2025
Kraken and BitGo Join the IPO Race
Kraken, another major crypto exchange, is also preparing to go public, aiming for an early 2026 IPO. The exchange sees a more favorable regulatory environment under Trump’s administration as a key factor in its decision.
Kraken recently disclosed impressive financial figures for 2024, with $1.5 billion in revenue and $380 million in adjusted earnings. The SEC’s decision to drop its lawsuit against Kraken further strengthens the exchange’s case for a public listing.
Like Gemini, Kraken’s IPO ambitions were previously stalled due to regulatory scrutiny under the Biden administration. However, with the SEC stepping back from enforcement actions, Kraken sees a clear path to go public.
🔥BULLISH: Kraken hits $1.5B in revenue (+128% YoY), $380M in profits, with $42.8B in assets and $665B in trading volume for 2024. pic.twitter.com/Bn2XKvf645
— Cointelegraph (@Cointelegraph) February 1, 2025
Kraken’s Co-CEO, Arjun Sethi, also attended the White House Crypto Summit, reinforcing the company’s alignment with the administration’s crypto-friendly policies.
Beyond Gemini and Kraken, BitGo, a leading digital asset custodian, is also exploring a public listing, with plans to go public in the second half of 2025.
What This Means for the Crypto Market
The IPO wave among crypto firms reflects growing confidence in the industry’s future. A public listing provides these companies with increased transparency, institutional investor access, and stronger market positioning.
Interestingly, this IPO trend comes at a time when crypto whales are buying these 3 altcoins, signaling broader market confidence. Institutional investors are also closely monitoring the U.S. government’s stance on Bitcoin, as seen with the US Bitcoin Reserve sparking $370M ETF outflows.
Additionally, the debate on Binance’s CZ regarding AI, Layer 1, and Layer 2 innovations highlights how rapidly the crypto space is evolving. With new advancements and regulatory shifts, crypto firms are positioning themselves to capitalize on the changing landscape.
As the regulatory environment shifts in favor of crypto firms, the industry could witness a wave of IPOs, opening new doors for institutional investors and boosting mainstream adoption.
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