Kraken Enters IPO Pipeline After $800M Raise Valuing Firm at $20B

Kraken has officially entered the IPO pipeline after submitting a confidential draft S-1 registration statement to the U.S. Securities and Exchange Commission.

The California-based crypto exchange announced the filing on Wednesday, following its recent disclosure of a $20 billion valuation and a $800 million funding round over two months.

Kraken's product suite spans over 450 digital assets, as well as U.S. futures, equities, ETFs, and institutional services, according to company materials.

The submission excludes details on timing, share count, or pricing structure, which will be determined by the SEC review and prevailing market conditions.