Blockchain.com Seeks $500M in Public Listing Amid Improved Crypto Market

Blockchain.com is reportedly seeking to raise around $500 million in an initial public offering (IPO) later this year, which would value the digital asset industry pioneer between $4 billion and $6 billion.

The company has confidentially filed its offering materials with the U.S. Securities and Exchange Commission earlier this year and has been pitching prospective investors on a target listing date in 2024.

This move comes as capital market conditions for cryptocurrency firms show signs of thawing, with Blockchain.com's adjusted profitability over three consecutive years providing a strong foundation for its public debut.

The company's IPO would test institutional appetite following a turbulent cycle for retail-facing crypto listings, which saw previous entrants such as Gemini Space Station Inc. and Etoro Group Ltd. experience significant losses in the months following their listings.