Crypto IPO Boom: Firms Already Public and Companies Lining Up for 2026 Listings

Circle’s IPO reset Wall Street demand for crypto firms, triggering the most active period for crypto listings to date.

Crypto companies have returned to public markets after Circle’s (CRCL) public debut highlighted the Wall Street potential of digital asset firms. CRCL’s strong performance reset investor expectations. More so, it showed that crypto-linked companies could again attract mainstream capital. 

Since then, multiple firms have followed, while many others are preparing to list in 2026. And thus, this has resulted in the most active period for crypto IPOs on record. Below is a detailed look at firms that have already gone public, as well as those lining up for a Wall Street debut.

Crypto Firms that Have Gone Public

1. Circle Internet Group (NYSE: CRCL)

Circle Internet Group went public on the New York Stock Exchange in early June, listing under ticker CRCL. The company issues USDC, one of the largest U.S. dollar–backed stablecoins in circulation. 

USDC is the second most valuable fiat-pegged crypto coin after Tether USDT and is widely used across crypto trading and payments.

CRCL listed at $31 in the IPO. But interestingly, demand proved far stronger than expected. On the first trading day, CRCL closed at $82.84, a gain of 167%.

Momentum continued into the second session, with shares touching $118.21. By June 9, the stock reached an all-time high of $120.96, placing gains at roughly 256% in three days.

As of the time of writing, CRCL closed at $84.80, up 1.61% on the day. Circle’s performance reopened the IPO window for crypto firms. Additionally, it showed that public investors were willing to pay a premium for regulated, revenue-generating digital asset businesses.

2. Bullish (NYSE: BLSH)

Bullish made its public debut in August under the ticker BLSH after announcing IPO plans in 2021 through a SPAC deal. After the long wait, the listing resumed as crypto prices and equity markets stabilized.

Shortly after listing, Bullish posted impressive numbers as demand for the stock grew. As of press time, BLSH’s share price is pegged at $39.66, up 2.53% on the day. 

Bullish operates a global digital asset exchange focused on deep liquidity and institutional trading. The firm is backed by prominent technology and finance investors.

3. eToro Group Ltd. (NASDAQ: ETOR)

On May 14, eToro Group Ltd went public on the Nasdaq under the ticker ETOR. Following a successful listing, ETOR closed its first trading day up 32%. The company’s valuation stood at roughly $5.4 billion. 

As per market data, ETOR closed at $31.32 in the recent market session after a modest daily outing. 

eToro is a social trading platform that allows users to trade crypto and other assets. At the same time, traders can copy other investors’ strategies. ETOR going public added one more crypto-related company that regular consumers can use, joining a growing list of similar publicly traded firms.

4. Coinbase Global (NASDAQ: COIN)

Coinbase Global remains the benchmark for crypto stocks and one of the apex crypto firms globally. The U.S.-based exchange went public in 2021 through a direct listing on Nasdaq. COIN listed at $381 per share. 

And with an opening value of $99.6 billion, Coinbase became one of the largest crypto companies ever listed. According to market reports, COIN closed the day near $255.86 after a modest green print. 

Even though its price has fluctuated since its launch, COIN remains the most widely held crypto-related stock.

5. TRON Inc. (NASDAQ: TRON)

TRON Inc entered public markets in July following a $100 million reverse merger with SRM Entertainment. Trading began on Nasdaq under ticker TRON, marking the U.S. public debut of the blockchain project founded by Justin Sun.

Shares slid nearly 5% on the first trading day. The stock currently trades around $1.63, down modestly in recent sessions. Under the merger terms, TRON is set to receive $210 million in tokens, potentially sourced from Sun-linked entities. 

In addition, it may hold TRX as a treasury reserve asset—an unusual move for a public company.

The transaction was arranged by Dominari Securities, a firm linked to Donald Trump Jr. and Eric Trump. However, the latter denied involvement in the IPO even after publicly supporting the project.

Over time, control of the blockchain changed after regulatory pressure eased. Administration of the network changed from the TRON Foundation to TRON Tech Ltd.

6. Figure Technology Solutions (NASDAQ: FIGR)

Figure Technology Solutions completed its IPO on September 11, 2025, and now trades under the ticker FIGR. Shares are listed on the Nasdaq Global Select Market.

Figure reported $29.1 million in net income on $190.6 million in revenue for the first half of 2025, reversing a prior-year loss. Co-founded by Mike Cagney, the company has funded over $16 billion in loans using blockchain-based infrastructure.

Digital Asset Firms Targeting IPOs in 2026

1. Bitkub

Bitkub plans to list on the Thai Stock Exchange in 2026. Thailand’s largest crypto exchange controls roughly 77% of the domestic market share and processes about $30 million in daily trading volume.

In view of the public listing, CEO Jirayut Srupsrisopa said the company has hired a team of financial experts. 

In 2023, Bitkub reportedly sold a 9.2% stake in Bitkub Online at a valuation of $16.5 million. Despite being a top crypto firm in Asia, it faces strong competition from Binance and platforms backed by banks.

2. Blockchain.com

Blockchain.com has strengthened its leadership team ahead of a potential listing. The firm hired former Goldman Sachs executive Justin Evans as CFO and Mike Wilcox as COO.

While no formal IPO date has been announced, executives say the company is positioning itself to go public once conditions allow. Blockchain.com operates one of the largest crypto wallet platforms globally, alongside trading and institutional services.

3. Kraken (Payward Inc.)

Kraken confidentially filed for a $250 million IPO with plans to list under the ticker KRAQU. The exchange could list as early as Q1 2026, depending on market approval.

A recent $800 million funding round valued Kraken at $20 billion, up sharply from earlier estimates. Investors included Citadel Securities and Jane Street. 

The firm has focused on cost reductions, acquisitions such as NinjaTrader, and expanded stock trading to support profitability ahead of a listing.

4. Grayscale Investments Inc.

Grayscale Investments filed for an IPO after managing roughly $35 billion in assets as of September 30. The firm offers about 40 crypto investment products covering more than 45 tokens.

Grayscale’s filing places it among the largest digital asset managers seeking public exposure, with a stated total addressable market of $365 billion.

5. Animoca Brands

Animoca Brands plans to list on Nasdaq via a reverse merger, with shareholders expected to retain about 95% of the new entity. The Hong Kong–based firm holds stakes in dozens of Web3 gaming and metaverse projects.

A 2026 listing will test investor appetite for gaming-linked crypto businesses after weaker NFT markets. Valuation estimates center near $6 billion, depending on asset monetization.

6. Consensys

Consensys is preparing for a U.S. IPO amid improved regulatory conditions. The firm has hired JPMorgan and Goldman Sachs to lead the process.

Consensys has raised over $725 million to date, including a $450 million Series D at a $7 billion valuation in 2022. Secondary market estimates now place its value above $10 billion, driven by MetaMask adoption and enterprise blockchain tools.

7. OKX

OKX is weighing a U.S. IPO after reentering the market in April. The exchange settled a $505 million DOJ case related to AML violations and established U.S. headquarters in San Jose.

Executives view a listing as a path to institutional capital and stronger positioning in the American market. Plans remain under discussion.

8. FalconX

FalconX is considering a New York Stock Exchange IPO. Valued at $8 billion in 2022, the firm serves institutional clients and is in early talks with advisers.

A public listing would support acquisitions and brand expansion, though no underwriter has been selected yet.

9. BitGo

BitGo filed an updated S-1A and aims for a Q1 2026 public debut. Crypto commentators believe this surge is driven by the firm’s recent market growth. In the past two years alone, its revenue has quadrupled, driven by custody and regulated staking.

BitGo is valued at nearly $1.75 billion and appeals to banks and hedge funds seeking crypto exposure without direct trading risk.

10. Ledger

Ledger is preparing for a major funding round ahead of a potential 2026 IPO. The French firm has sold over 6 million hardware wallets and expanded into recurring software and recovery services through Ledger Live.

Ledger has repositioned itself as a full self-custody platform, pitching security and user control as demand for centralized exchanges fades.

Image by Sergeitokmakov from Pixabay

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