IPO Guide 2026

Crypto Company IPO Guide

Complete guide to crypto IPOs: valuations, timelines, and how to invest in public crypto companies.

15 min readJanuary 23, 2026
$14.6B
Raised in 2025
11
Crypto IPOs 2025
$85.8B
Largest IPO (COIN)
6+
Expected 2026

What is an IPO?

An Initial Public Offering (IPO) is when a private company offers shares to the public for the first time on a stock exchange. This allows everyday investors to own a piece of the company and trade shares freely.

Capital Raising

Companies raise significant capital to fund growth, acquisitions, and R&D

Liquidity

Early investors and employees can sell shares on the public market

Credibility

Public listing increases trust and visibility with institutional investors

Transparency

SEC filings provide financial transparency and regulatory compliance

How Does the IPO Process Work?

Step 1
Hire Underwriters
Step 2
Due Diligence
Step 3
SEC Filing (S-1)
Step 4
Roadshow
Step 5
Pricing
Step 6
Go Public

Hire Underwriters

Investment banks like Goldman Sachs, JPMorgan guide the IPO process

Completed Crypto IPOs

🟦

Coinbase

COIN
NASDAQ
Date
April 14, 2021
Valuation
$85.8B
Open Price
$381
Status
Trading
Direct Listing
🟢

Circle

CRCL
NYSE
Date
June 5, 2025
Valuation
$16.7B
Open Price
$31
Status
+168% Day 1
Traditional IPO
🟩

eToro

ETOR
NASDAQ
Date
May 14, 2025
Valuation
$5.4B
Open Price
$52
Status
Trading
Traditional IPO
🟨

Bullish

BULL
NYSE
Date
August 13, 2025
Valuation
$10B+
Open Price
$28
Status
+143% Day 1
Traditional IPO

Expected 2026 IPOs

🟣

Kraken

One of the largest US crypto exchanges

High
Expected
H1 2026
Valuation
$15-20B
Status
S-1 Filed
Revenue
$1.5B (2024)
🦊

Consensys (MetaMask)

MetaMask wallet with 30M monthly users

High
Expected
Mid-2026
Valuation
$7B
Status
In Preparation
Revenue
N/A

Ledger

Leading hardware wallet manufacturer

Medium
Expected
2026
Valuation
$1.5B+
Status
Exploring
Revenue
N/A
🎮

Animoca Brands

Web3 gaming and metaverse company

Medium
Expected
2026
Valuation
$6B
Status
Exploring
Revenue
N/A
🔗

Blockchain.com

One of the oldest crypto wallet providers

Medium
Expected
2026
Valuation
$3.5B+
Status
Considering
Revenue
N/A

Ripple - No IPO Plans

Ripple confirmed in January 2026 that they have no intention to go public. The company raised $500M in November 2025 at a $40B valuation and maintains a strong balance sheet without needing public market capital.

$40B ValuationPrivate Company

How to Invest in Crypto IPOs

1Open a Brokerage Account

You need a stock brokerage account (eToro, Interactive Brokers, Robinhood) to buy IPO shares once they start trading.

2Or Buy Their Tokens

Some crypto companies have tokens (e.g., BNB for Binance). Buy on crypto exchanges like Binance or OKX with our referral codes.

IPO investments are risky. Share prices can drop below the offering price. Always do your own research and never invest more than you can afford to lose.

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