Will the Kraken IPO Happen in 2025?
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Explore ways to invest in this crypto startup as the Kraken IPO date approaches. Linqto* removes barriers to private markets and gives you access to invest in pre-IPO companies. Kraken is recently available on the platform.
Table of Contents
Recent Kraken News
06/06/2024: Kraken Is in Talks for Pre-IPO Fund Raising Round
02/22/2024: Kraken Files to Dismiss SEC Lawsuit Against It
09/27/2023: Kraken Plans to Offer Trading in U.S. Stocks and ETFs
06/28/2023: How Kraken emerged as an oasis of growth in 2023
Older news…
About Kraken
Kraken is a cryptocurrency exchange based in San Francisco, CA. The online platform allows customers to buy, trade, and store crypto, NFTs, and futures for as little as $10.
Co-founder Jesse Powell was an early crypto adopter who consulted Mt. Gox leadership after its devastating security breach. He used the lessons learned from the Mt. Gox failures to create a more secure and sustainable cryptocurrency trading platform.
Kraken is one of the top ten ranked global cryptocurrency exchanges. As of May 2024, it offers access to 261 coins and seven fiat currencies.
The platform is popular with active traders, offering future and margin trading. The company has a Special Purpose Depository Institution (SPDI) designation but is not a bank (and therefore not FDIC-insured). It’s also planning to launch a stock and ETF trading platform in 2024.
After competitors such as Coinbase had hugely successful IPOs in 2021, Powell said Kraken was planning to IPO in the second half of 2022. However, fintechs, including anything crypto-related, crashed severely in 2022, and Kraken never IPO.
Now that the 2021 fintech fallout has settled, Kraken may be an emerging IPO candidate as conditions continue to improve.
Here’s a video of former CEO Jesse Powell speaking to Bloomberg in2021 about IPO plans that never commenced:
Ownership
Kraken is a startup that has raised funds via venture capital and a crowdsourcing campaign from its customers. The founders and employees make up the balance of equity owners.
The company has raised more than $130 million since its founding.
Investors included Barry Silbert, Trade Meyer, Hummingbird Ventures, SBI Group, Tribe Capital, Blockchain Capital, Blockchain Coinvestors, Digital Currency Group, GE Ventures, Money Partners Group, MyAsiaVC, Soul Capital, Tachi.ai Ventures, and Trammell Venture Partners.
Funding Rounds
| Round | Date | Est. Valuation | Raise Amount | Price |
|---|---|---|---|---|
| Equity Crowdfunding | 06/24/19 | NA | $13.99M | NA |
| Series C | 02/03/19 | $4.00B | $100.00M | $19.84 |
| Series B | 04/11/16 | $26.00M | $7.00M | $0.17 |
| Series A | 03/24/14 | $19.00M | $5.00M | $0.17 |
| Source: Caplight |
Valuation
The latest confirmed Kraken valuation is $4.0 billion based on the Series C funding round completed in February 2019.
Pre-IPO platform data analyzed at Hiive and Caplight suggests the Kraken valuation is closer to $2.5 billion as of May 2024.
IPO Potential
The Kraken IPO date has yet to be determined. A Bloomberg report in June 2024 suggests the company will raise one more private round before an IPO.
With the transition to a more crypto-friendly administration in 2025, calls for a Kraken IPO have increased.
Kraken has be talking about an IPO for a while.
In April 2021, then-CEO Jesse Powell indicated the company was aiming to IPO by late 2022, pending market conditions.
The IPO markets soured in 2022, and thus, the Kraken IPO never commenced. Powell stepped down as CEO but is still involved with the company.
Now that the IPO market is improving, we may see multiple fintech startups begin the IPO process. However, legal issues may also play a role in IPO timing.
The most notable Kraken peers that has indicated intent to IPO are Circle and Ripple. Circle is the curator of the USDC cryptocurrency stablecoin. The company filed confidentially for an IPO in January 2024.
We’ll get clues about a potential Kraken IPO date if the company hires an underwriter, files an S-1 (confidentially or public), or if reporters uncover a forthcoming Kraken IPO date range.
How to Invest in Kraken Stock
Most individuals cannot own Kraken stock via pre-IPO investing platforms because of the SEC accreditation requirement.
Furthermore, it will be difficult for most investors to acquire IPO shares if and when the Kraken IPO date arrives due to anticipated high demand.
Therefore, the most likely way investors can own Kraken stock is to wait for the IPO and buy shares after it goes public.
But savvy pre-IPO investors may find opportunities to own the company before the IPO.
Here are some potential options to own Kraken stock before, during, and after the IPO.
1. Access Kraken stock pre-IPO
Pre-IPO investment platforms may offer Kraken stock for early purchase as employees or early investors seek to sell some of their shares before the Kraken IPO.
Accredited investors may access shares, provided they are registered on the platform and receive notifications about their availability.
Monitor pre-IPO investing platforms such as Linqto (recently available), Forge Global, EquityZen, and Hiive for availability.
If an investment opportunity becomes available, expect between $2,500 to $50,000 for an investment minimum. It’s free to sign up for data and deal alerts.
Pre-IPO investment platform memberships are free, but deal-specific minimum investment amounts may apply and vary.
Venture capital funds emerged in 2022 and are targeted at retail investors. Non-accredited investors are welcome to invest.
The Fundrise Innovation Fund (review) is the most promising for patient, long-term investors. It holds multiple AI and technology startups. U.S.-based investors can make their first investment for $10.
However, Kraken is not a fund holding. But Fundrise has indicated that financial technology (fintech) companies will be a foundational target sector.
Check out our top pre-IPO investing platforms for the latest share availability.
Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
2. Buy during another crowdfunding campaign
Kraken conducted a crowdfunding campaign in 2019 that allowed more than 2,000 investors to invest more than $13 million.
Crowdfunding remains a robust but somewhat untapped funding source for startups due to regulations.
Kraken has not indicated it is short on cash or needs to raise funds. However, since it has done so before, another crowdfunding campaign is a possibility. Participation would likely be by invitation to existing customers.
3. Buy during the Kraken IPO through a participating broker
When a company goes public, investors can buy the stock during the IPO at the IPO price.
Before, only Wall Street’s top customers could invest in IPOs. But now, retail investors can access IPOs through participating discount brokers.
Some online brokers (like the ones listed below) allow investors to invest in IPOs for free, even if they have limited funds in their accounts.
Brokers negotiate exclusive access to IPO shares. The chances of getting access to specific high-demand IPOs increase by the number of brokerage accounts you have.
TradeStation has a more established track record of accessing more than 360 IPOs and secondary offerings via its partnership with ClickIPO.
Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
4. Buy the stock after the Kraken IPO
Waiting for the IPO provides access to established financials after the initial quarter of trading, whereas pre-IPO investing has reduced transparency.
High-demand companies may be overvalued at the time of their public offering, selling shares near their peak. Share may be at risk of significant losses upon market corrections.
Despite high initial valuations, stock prices sometimes decline after the first and second-quarter earnings reports post-IPO. For example, Rivian and Robinhood dropped over 80% six months after their 2021 IPOs. 2021 was an anomaly but demonstrates the risk of chasing overvalued IPOs.
While stock price declines can make good entry points for long-term buy-and-hold investors, watch out for lockup expirations and earnings discrepancies as they may impact price movements.
Patience is essential. The most disruptive companies may perform better over time.
Frequently Asked Questions (FAQs)
Is Kraken Publicly Traded?
No. Kraken is not publicly traded. It is a private company.
What is the Kraken Stock Price?
A public Kraken stock price does not exist. It’s a private company.
Kraken completed its February 2019 Series C funding round at $19.84 per share. As of May 2024, the stock price is estimated to be 30-40% below the last funding round.
What is the Kraken Stock Symbol?
There is no Kraken stock symbol because the company is private. The company may reserve a stock symbol while planning to file for an IPO. The reserved symbol will be revealed when the S-1 filing is released to the public.
Though private information regarding forthcoming IPOs typically leaks to the press, startup stock symbols are usually not confirmed until the filing.
Here are a few Kraken ticker suggestions:
- KRKN
- KRK
- KRN
Where is the Kraken IPO S-1 Filing?
The Kraken S-1 filing has not been released to the public, and there is no indication of a confidential filing.
The document will become available if the company submits filings to the SEC and the regulatory commission approves and releases it to the public.
We’ll post a copy of the S-1 filing on this page when it becomes available.
You can monitor the most recent S-1 IPO filings on this website.
News Archive
04/27/2023: Dave Ripley takes the helm as Kraken’s new CEO
04/08/2021: Kraken considers going public
Conclusion
Investors may be enthusiastic when they discover companies capitalizing on macroeconomic trends like cryptocurrency platforms and alternative currencies.
Buying stock early on can be challenging for retail investors despite wanting to own the company.
Multiple pre-IPO platforms now provide more opportunities for investors. But venture capital investment is still primarily reserved for the ultra-wealthy, necessitating significant wealth to invest in seed and early funding rounds. The risks of owning pre-IPO stocks may outweigh the potential gains.
When pursuing IPO shares and early equity in Kraken stock, have reasonable expectations. Shares may be unavailable or restricted.
Invest in pre-IPO and IPO companies with caution. Good luck if the Kraken IPO is on your watch list.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
Risk Statement: Investing in IPOs and pre-IPO startups involves significant risk. Do not invest in companies based solely on what is included in this article. Only invest in IPOs and pre-IPO companies with money you can afford to lose. Access IPOs is for informational purposes only. Mentions of specific investments should not be construed as financial advice. Conduct personalized research and consider consulting with an investment advisor before investing.
