Kraken: the process of going public resumed after a brief pause caused by the market cooling in March. The recovery of Bitcoin’s price above $76,000 in April has made a public debut relevant once again. Choosing the confidential S-1 filing format allows Kraken to refine its financial reporting without excessive media pressure, enabling the company to select the most favorable moment for its final roadshow.
News of the pending deal with Deutsche Börse Group sent a strong signal to the market. According to Bloomberg, the operator of the Frankfurt Stock Exchange has committed to investing $200 million in Kraken in exchange for a 1.5% stake. This commitment values the company at $13.3 billion. Although this figure is below the $20 billion peak reached in November 2025, the involvement of a conservative European giant such as Deutsche Börse is key. This confirms Kraken’s transparency and its ability to attract strategic capital even amid a market correction.
Kraken announced in November that it had confidentially filed for an IPO with the Securities and Exchange Commission (SEC) and that it expected the IPO to occur after the regulator completed its review process, subject to market and other conditions.
Bloomberg reported at the time, citing sources familiar with the matter, that Kraken aimed to go public as soon as the first quarter of 2026.
