Blockchain.com is pitching investors on a roughly $500 million initial public offering. The offering would value the crypto exchange between $4 billion and $6 billion, Bloomberg reported. The push builds on a confidential filing with the SEC and comes as Bitcoin's rebound shows signs of thawing capital markets for crypto listings.
Blockchain.com Group Holdings Inc. is pitching prospective investors on an initial public offering later this year. The company is seeking to raise approximately $500 million, Bloomberg reported Monday. The offering would value the platform at between $4 billion and $6 billion, though final terms remain fluid, and executives would consider a smaller offering if necessary.
A confidential filing already in motion
The plans build on a confidential draft S-1 registration statement Blockchain.com submitted to the SEC on May 21, 2026 for an offering of Class A ordinary shares. At the time, the company had not yet determined the number of shares or the expected price range. Blockchain.com has also been profitable on an adjusted basis for the past three years, giving it a rare earnings record among crypto listing candidates.
Bitcoin's rebound reopens the window
The renewed push comes as Bitcoin has recovered 33% since mid-August. That rebound is part of why capital market conditions for cryptocurrency firms show signs of thawing.
Yet a successful debut would still test institutional appetite after a turbulent cycle for retail-facing crypto listings. Gemini Space Station Inc., Bullish, and Etoro Group Ltd. all completed listings ahead of Bitcoin's record highs. Shares of Gemini, BitGo Holdings Inc., and Etoro are now down roughly 50% to 80% after crypto valuations collapsed.
A steep discount to its 2022 peak
Blockchain.com has raised $537 million in total equity to date. That includes a $110 million Series E round led by Kingsway Capital in 2023 that valued the firm at less than half its 2022 peak of $14 billion. Founded in 2011 as a Bitcoin blockchain explorer, the company has since grown to support roughly 95 million wallets and more than 43 million confirmed accounts. It also signed a memorandum of understanding with the New York Stock Exchange on September 23, 2026 to offer tokenized versions of US-listed stocks and ETFs, pending regulatory approval.
Rival exchange operator Payward Inc., the parent of Kraken, is also pursuing a listing, but Bloomberg reports that debut has faced delays and may not materialize until 2027.
Sources: Investing.com, Crypto Briefing, Crypto Briefing
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