2026

Choppy

Form

April

<p><a href="https://x.com/blockchain" rel="noopener noreferrer nofollow">@blockchain</a> has taken a formal step toward a public listing, <cite>confidentially filing a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering.</cite><cite>The company said it submitted a draft S-1 related to a proposed offering of Class A ordinary shares, with pricing and the number of shares yet to be determined.</cite> According to Bloomberg, <cite>Blockchain.com is targeting a public listing this year.</cite></p>
<h2 id="scale-and-valuation-history">Scale and Valuation History</h2>
<p><cite>Founded in 2011 by three members of the original Bitcoin online forum BitcoinTalk.org, Blockchain.com is among the earliest institutions built around digital assets.</cite><cite>The company reports more than 95 million wallets, over 43 million verified users, and has processed more than $1.1 trillion in crypto transactions.</cite><cite>The company employs around 500 people and has been profitable on an adjusted basis for three years.</cite></p>
<p><cite>Blockchain.com was valued at $14 billion in March 2022 at the peak of the crypto bull market, with backing from major venture firms including Lightspeed and Baillie Gifford.</cite><cite>In 2023, it raised $110 million in a Series E round led by UK-based Kingsway Capital at a valuation that had fallen to less than half its 2022 peak, a sharp reset that reflected the broad crypto market downturn that followed that year's industry collapses.</cite></p>
<h2 id="a-choppy-ipo-landscape">A Choppy IPO Landscape</h2>
<p>The filing lands during an uneven period for crypto public listings. <cite>BitGo completed one of the largest crypto IPOs of 2026 in January, pricing shares at $18 and raising about $213 million in its NYSE debut.</cite> Its post-listing performance has been difficult: <cite>BitGo's share price later dropped below its IPO value and fell by around 36%.</cite></p>
<p><cite>Kraken parent Payward Inc. filed confidentially for a U.S. IPO in November 2025 targeting a first-quarter debut, but shelved those plans in March as market conditions deteriorated.</cite><cite>Kraken co-CEO Arjun Sethi later said in April that the company was still pursuing a public listing, though reports in May suggested the debut could be delayed until 2027 following a round of layoffs.</cite></p>
<p><cite>The confidential filing process, permitted under U.S. securities law, allows companies to prepare for public offerings away from market scrutiny while the SEC conducts its review.</cite> The IPO remains subject to market conditions and completion of that process.</p>
<p><strong>Sources:</strong><br><a href="https://bitcoinmagazine.com/news/blockchain-com-confidentially-files-ipo" rel="noopener noreferrer nofollow">Bitcoin Magazine: Blockchain.com Confidentially Files For U.S. IPO</a><br><a href="https://cryptobriefing.com/blockchain-com-confidentially-files-for-us-ipo/" rel="noopener noreferrer nofollow">Crypto Briefing: Blockchain.com files confidential IPO paperwork with SEC</a><br><a href="https://www.coindesk.com/business/2026/03/17/crypto-exchange-kraken-freezes-multibillion-dollar-ipo-plan-due-to-difficult-market-conditions" rel="noopener noreferrer nofollow">CoinDesk: Kraken freezes IPO plan due to difficult market conditions</a></p>

Blockchain.com just confidentially filed to go public this year

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