Kraken-backed SPAC KRAKacquisition raises $345M in Nasdaq IPO to pursue digital-asset deals
KRAKacquisition Corp, a SPAC backed by crypto exchange Kraken with support from Tribe Capital and Natural Capital, completed an upsized Nasdaq IPO raising $345 million by selling 34.5 million units at $10 each (including full exercise of the underwriters’ overallotment). Units began trading on the Nasdaq Global Market under ticker KRAQU; each unit comprises one Class A common share and a one-quarter redeemable warrant exercisable at $11.50. The SPAC filed originally to raise $250 million and increased size during pricing; the registration statement became effective Jan. 27, 2026. Sponsors include affiliates of Payward Inc. (Kraken’s parent), Natural Capital and Tribe Capital. KRAKacquisition will target companies in the digital-asset ecosystem — payment networks, tokenization platforms, blockchain infrastructure and compliance solutions — but has not yet identified or contacted acquisition candidates. Gross proceeds of $345 million will be held in trust pending a business combination within the SPAC’s prescribed timeframe. The deal reflects renewed appetite for crypto IPOs and SPACs amid a more pro-crypto U.S. policy stance and follows broader 2025–26 momentum of crypto firms exploring public listings (reports cite Ledger, Copper and Securitize among those considering listings). Key stats for traders: $345M raised, 34.5M units, $10 per unit, $11.50 warrant strike, Nasdaq ticker KRAQU. Primary keywords: Kraken, SPAC, Nasdaq IPO, crypto IPOs, digital asset M&A.
Neutral
The immediate market impact on Kraken’s token or crypto prices is likely neutral. The SPAC raise is corporate/financial news: it increases available capital for acquisitions in the digital-asset sector and signals renewed investor appetite for crypto listings, which is constructive for sector sentiment. However, the announcement does not involve a direct token issuance, product launch, or change to Kraken’s operating fundamentals that would typically drive short-term price moves in a specific cryptocurrency. Short-term: limited direct price reaction expected for any single crypto; possible modest positive sentiment for crypto equities and infrastructure tokens. Long-term: if KRAKacquisition completes a strategic acquisition in a high-growth digital-asset infrastructure company, it could have bullish implications for related projects and ecosystem valuation. For traders: monitor M&A target announcements, warrant/share float effects after trading commencement, and any acquisition specifics that tie to particular tokens or revenue models.