Blockchain.com targets $500 million IPO at up to $6 billion valuation
The London-based crypto services company confidentially filed for an initial public offering with the Securities and Exchange Commission earlier this year.
Blockchain.com is aiming to go public by the end of the year, Bloomberg reported on Monday, citing people familiar with the matter.
The cryptocurrency financial services company is looking to raise about $500 million at a valuation of $4 billion-$6 billion amid discussions with prospective investors, according to the report.
London-headquartered Blockchain.com, which offers exchange, wallet, trading and lending services, filed confidentially for a proposed initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) earlier this year.
The confidential filing allowed the company to begin the SEC review process before publicly disclosing financial details related to the listing.
This year has been a quiet one for crypto IPOs, following several prominent listings in 2025, such as stablecoin issuer Circle CRCL$86,73·Piyasa Kapalı and crypto exchanges Gemini Space Station (GEMI) and CoinDesk parent company Bullish BLSH$36,18·Piyasa Kapalı.
A depressed crypto market throughout the first half of 2026 may have seen firms put IPO plans on hold, awaiting a pickup in asset prices, which has arrived in the last couple of months.
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Asanat Analysis — Why it matters
Blockchain.com's $6B valuation IPO filing signals institutional crypto infrastructure has reached maturity for public market entry. The company operates one of crypto's oldest wallet services (founded 2011) and has diversified into exchanges, lending, and data products—positioning itself as a multi-service platform rather than single-vertical play. This contrasts with the 2021 SPACs era when crypto companies rushed public; a confidential filing suggests measured, SEC-aligned approach reflecting post-FTX regulatory caution.
The timing matters: public markets have largely closed to crypto natives since 2022. Blockchain.com's IPO attempt tests whether institutional appetite exists for pure-play crypto infrastructure with established revenue and user base. Success could unlock similar exits for Kraken, Coinbase's private competitors, or DeFi derivatives platforms—creating a new valuation benchmark. Failure or delayed listing would signal continued skepticism about crypto's regulatory trajectory and consumer crypto's market legitimacy among traditional finance gatekeepers.