Kraken, Consensys and Ledger prepare 2026 IPOs after $3.4B raised in 2025

On December 29, 2025, major crypto firms outlined plans for 2026 public listings after raising up to $3.4 billion in IPOs through 2025. Kraken targets a first-half 2026 debut following a November 2025 S-1, while Consensys and Ledger are positioning for mid-year and New York options. Circle and Bullish’s 2025 offerings above $1 billion reinforced investor interest.