The year 2025 saw a significant acceleration in the number of IPOs for crypto projects. This trend is set to continue in 2026, but what exactly are the main IPOs to expect? Let’s take a look…
2026: the year of IPOs across the board?
The cryptocurrency ecosystem is evolving in line with its most promising popular sectors, but also with the players who support its adoption. In this field, 2025 could be summed up as a significant replacement of individual investors by structures from traditional finance.
This dynamic has led to increased interconnection between these two worlds, combined with a notable acceleration in initial public offerings (IPOs), which until now have involved only a few applicants, such as the cryptocurrency exchange platform Coinbase (COIN) and certain Bitcoin miners.
Indeed, the last 12 months have seen companies such as the trading platform Bullish (BLSH), the lender Figure (FIGR), and the crypto exchange Gemini (GEMI) enter the US stock market.
The most popular IPO remains undoubtedly that of stablecoin giant Circle (CRCL), despite a rather mixed performance at the end of the year.
Others could quickly follow suit over the next year, according to Samantha Lewis, partner at venture capital fund Mercury Fund, in order to accompany and support the growing link between traditional finance and the cryptocurrency sector.
The emerging pipeline of crypto IPOs highlights a specific category of companies, with the common thread being infrastructure capable of creating bridges for capital between traditional finance and on-chain markets.
Samantha Lewis
What will be the next crypto IPOs?
This momentum has sparked numerous rumors and internal discussions about IPOs in the coming months and throughout 2026, with certain names recurring in most analyses on the subject, including leading players such as:
- The Kraken platform;
- Ripple Labs (XRP);
- The European exchange Bitpanda;
- The French leader in hardware wallets, Ledger;
- The crypto custody company BitGo.
Other names could be added to this list, such as the analysis firms Grayscale and Chainalysis, the crypto trading company FalconX, and the platforms Bithumb and Uphold.
Some are also talking about the development company Consensys, associated with the Ethereum blockchain and best known for its management of the MetaMask crypto wallet, but with a cooling-off period that could delay this IPO until 2027.
A year in which Jason Yanowitz, co-founder of analytics firm Blockworks, believes other companies could take the plunge, such as Anchorage, Fireblocks, OKX, Crypto.com, Bitvavo, MoonPay, Blockchain.com, and Uniswap Labs.
At the same time, 2026 also looks set to herald a strong comeback for Initial Coin Offerings (ICOs), driven by more favorable regulations in the United States and a desire to remedy the abuses and issues associated with airdrops.
