Blockchain.com filed confidentially for a US IPO as crypto firms continue testing public markets after mixed listing performances.
Crypto News
Blockchain(dot)com Group Holdings Inc. submitted a confidential draft registration statement on Form S-1 to the US Securities and Exchange Commission (SEC) on May 21, taking the first formal step toward a US public listing.
The Dallas-based company has not yet set the number of shares to be offered or the price range. The offering remains subject to the SEC's review and prevailing market conditions.
Founded in 2011, Blockchain(dot)com operates a retail crypto wallet, a trading exchange, and a suite of institutional products. The firm states on its website that it has facilitated more than 100 million wallet creations and over $1 trillion in transaction volume since its founding. The company was previously valued as high as $14 billion.
Earlier in 2026, Blockchain(dot)com received regulatory approval from UK financial authorities to offer services to crypto customers in the country. The firm adds to a group of crypto companies that have either completed or signaled plans for US listings. Kraken submitted its own confidential IPO filing in November 2025, targeting a Q1 2026 debut, but paused those plans in March as market conditions weakened. Ledger, Consensys, and Grayscale are also among the firms that have signaled IPO interest.
Crypto IPO Wave Reshapes Public Markets
Circle, eToro, Bullish, and Gemini all completed US public offerings in 2025. Those listings collectively raised 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 that year.
Post-IPO performance across recent crypto listings has diverged. Circle's shares surged more than 168% on their first day of trading. Gemini's market cap had fallen below $700 million as of May 21. Bullish was trading at around $36.25, just below its $37 IPO issuance price, with an intraday market cap of roughly $5.94 billion, according to Yahoo Finance data.
How Blockchain(dot)com's public valuation will compare to those of already-listed exchange peers has not been established. The final terms of its offering, including share count, price range, and expected timeline, have not yet been disclosed. The firm's long-standing market presence since 2011 and its broad wallet user base are among the factors it is likely to highlight to prospective investors.
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