Blockchain.com eyes $500M IPO as crypto capital markets thaw: Report — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Blockchain.com is targeting roughly $500 million in an IPO this year at a $4-6 billion valuation, well below the $14 billion mark it hit at the 2022 crypto peak, and is open to a smaller offering if needed to complete the listing.
- Blockchain.com confidentially filed draft registration documents with the SEC in May, paving the way for a potential public debut without yet disclosing share count or price range.
- Bloomberg reported the IPO plans Monday citing people familiar with the matter, with a valuation range of $4 billion to $6 billion.
- Bitcoin has climbed more than 30% since mid-August after the US Treasury announced it would significantly increase buybacks of long-dated government debt, a move the source ties to a broader crypto market recovery that is reopening capital markets.
- Gemini, BitGo, and eToro — all recently listed crypto companies — are still down roughly 50% to 80% from their post-IPO highs, underscoring how tough the environment remains for new crypto listings.
Why it matters: Blockchain.com's $4-6 billion IPO target marks a 57% markdown from its $14 billion 2022 valuation, and the deal enters a market where peer crypto listings (Gemini, BitGo, eToro) are already down 50-80% from their own post-IPO highs — so the capital-markets 'thaw' is real for filings, but the buyer appetite that rewards crypto IPOs is not yet back.
Ask SkimNews
