Improving market conditions push BitGo, Kraken, Grayscale and others toward IPOs next year
Market recovery and recent successful listings are encouraging multiple crypto firms to pursue IPOs in 2026. After an overcrowded IPO calendar this year, high-profile listings such as Circle and Bullish have increased Wall Street interest. Companies preparing or reportedly considering IPOs include Kraken (which has filed), BitGo, Grayscale, Blockchain.com, and FalconX (said to be considering but has not filed with the SEC). The trend reflects improved market conditions, more precedents of successful public offerings, and renewed appetite from investors for crypto-related public equities. This wave of potential listings could broaden institutional access to crypto firms and affect sector liquidity and valuation benchmarks.
Bullish
The news is bullish because increasing numbers of crypto firms preparing or filing for IPOs signals renewed investor confidence and improving market conditions. Recent successful listings (e.g., Circle, Bullish) create positive precedents that lower perceived execution risk for other crypto companies seeking public markets. For traders, expected implications include: short-term uplift in sentiment across crypto equities and potentially correlated token markets as institutional demand and media attention rise; increased volatility around company-specific announcements (filings, pricing, lockup expiries); and longer-term structural benefits such as deeper liquidity, clearer valuation comparables, and greater institutional participation. Similar past cycles — for example, waves of fintech and exchange listings after market recoveries — produced initial bullish runs followed by periodic profit-taking and volatility once lockups expired or macro conditions shifted. Therefore traders should watch IPO schedules, SEC filings, lockup timelines, and investor demand indicators to trade sector volatility and identify long-term investment opportunities.