Crypto exchange Kraken is reportedly seeking $500 million in funding at a $15 billion valuation, according to The Information.

The report cited sources familiar with the matter and noted that Kraken’s last valuation stood at $11 billion in 2022.

In March, Bloomberg reported that Kraken was preparing for a possible IPO in early 2026. The report linked this to regulatory shifts under President Donald Trump’s administration.

Kraken’s funding plans align with an increase in initial public offerings involving crypto companies.

Trading platforms such as eToro and Circle Internet Group have recently completed IPOs, adding to the momentum of public listings in the sector.

Kraken Trading Volume and Market Data

Kraken’s daily trading volume is $1.37 billion, with over 1,100 trading pairs, according to CoinGecko. By comparison, Coinbase records $2.77 billion in daily volume with 448 trading pairs.

Kraken’s trading volume has remained stable, reflecting consistent user activity. Its wider range of trading pairs offers broader coverage compared to its U.S.-based competitor.

Kraken has not issued a comment on the funding report.

IPO Growth Among Crypto Companies

Crypto companies have benefited from strong market performance in 2025. Bitcoin (BTC) recently traded at $117,786, driving investor interest in listed crypto firms.

Circle, the issuer of USDC, completed a $1 billion IPO in June. It debuted on the New York Stock Exchange at $31 per share and has since risen 484%, closing at over $181.

eToro (ETOR) listed on Nasdaq in May at $52 per share and now trades at $60.71, a 16.5% increase.

Coinbase (COIN) has gained 50% this year, while Robinhood Markets (HOOD), which also supports crypto trading, is up 162% in 2025.

Regulatory Changes and SEC Lawsuit Withdrawal

Kraken’s reported IPO plans follow regulatory changes in the U.S. The Securities and Exchange Commission (SEC) dropped its securities violation lawsuit against Kraken in March.

The case had been ongoing for years and was among several lawsuits abandoned under the Trump administration.

Other crypto firms preparing for IPOs include Ripple, Gemini, Galaxy Digital, Grayscale, and Bullish, which is backed by Peter Thiel.

Kraken Expands in Europe with MiCA License and Payment App

In June, Kraken launched a peer-to-peer payment app called “Krak” that allows fiat and cryptocurrency transfers globally.

The same month, Kraken secured an EU license under the Markets in Crypto-Assets (MiCA) framework, enabling expansion of its services across European Union member states.

These moves add to Kraken’s positioning as it raises funds and moves closer to its reported 2026 IPO.

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