Crypto companies are actively pursuing IPOs, with Circle having set a high bar. Gemini and Bullish are following suit with new filings.
Circle's IPO Success
The IPO of Circle, the issuer of the USDC token, took place on June 5 and was marked by unprecedented success. Circle's shares (CRCL) soared by 290% above the offering price. This situation indicates a growing interest from investors in crypto-assets and marketplaces with real revenue and sound regulatory infrastructure.
New IPO Filings from Gemini and Bullish
Just days after Circle's IPO, two other crypto companies, Gemini, founded by the Winklevoss twins, and Bullish, have also filed for IPOs. Gemini has kept the details of its offering under wraps, while Bullish had previously attempted to go public via SPAC in 2021, which was canceled. Regulatory clarity in the U.S. is expected to drive interest in crypto company IPOs.
Future Prospects for Crypto IPOs
Potential IPO candidates include Kraken, reportedly preparing for a public offering in 2026, and BitGo, looking to IPO sooner. Other candidates may include Consensys, Ledger, and Chainalysis. Each new listing tightens the connection between traditional finance and the crypto industry.
Circle's success sets a high benchmark for future crypto IPOs. Even if upcoming listings do not match its results, they hold significant value for integrating the crypto economy into traditional financial markets.
