Blockchain.com Confidentially Files for U.S. IPO, Joining Wave of Crypto Listings

Bitcoin Magazine

Blockchain.com Confidentially Files for U.S. IPO, Joining Wave of Crypto Listings

Blockchain.com Group Holdings Inc., one of the oldest companies in the crypto industry, has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission for an initial public offering, the Dallas-based firm announced Thursday.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The IPO remains subject to market conditions and the completion of the SEC’s review process. They expect to go public before the end of 2026.

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. The company initially tracked activity on the Bitcoin blockchain before expanding into a consumer wallet and exchange, and later into institutional products and services. 

Today, it supports more than 95 million wallets and counts more than 43 million confirmed accounts. The firm employs approximately 500 people and has been profitable on an adjusted basis for three consecutive years, according to the source familiar with its plans.

Crypto firms entering public markets

The filing marks the latest milestone in a sustained push by crypto companies into the public markets. In 2025 alone, Circle, eToro, Bullish, and Gemini — the Winklevoss brothers’ exchange — all went public, collectively raising an estimated $14.6 billion across at least 11 offerings. 

BitGo listed on the New York Stock Exchange in January 2026, becoming the first major crypto firm to go public this year. 

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. Grayscale remains among the firms still in the pipeline.

Blockchain.com’s path to a public listing has been a long one. The company initially considered going public as early as 2022, when it carried a valuation of $14 billion. But 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.

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. Should Blockchain.com complete its listing, it would add another veteran name to a rapidly growing roster of publicly traded crypto businesses.

This post Blockchain.com Confidentially Files for U.S. IPO, Joining Wave of Crypto Listings first appeared on Bitcoin Magazine and is written by Micah Zimmerman.