Blockchain.com targets $500M IPO at $4B–$6B valuation
VC & Fundraising ·
Crypto exchange Blockchain.com is reportedly preparing a $500M initial public offering this year, seeking a valuation between $4B and $6B.
The plan, first reported by Bloomberg, would put Blockchain.com among a wave of crypto-linked firms testing public markets as digital-asset prices recover. Four distinct sources are tracking the report, though none has disclosed a specific listing venue, timeline, or underwriter for the offering.
An IPO of this size would follow the standard mechanics of any US public listing: the company would need to file a registration statement, commonly an S-1, disclosing financial results and risk factors to the SEC, then work with investment banks to gauge institutional demand through bookbuilding before shares are priced and allotted. A primer on the IPO process notes that proceeds can be structured as a primary offering that funds the company directly, a secondary offering that provides liquidity to existing shareholders, or a mix of both — a distinction that has not yet been specified for Blockchain.com's plans.
The targeted $4B–$6B valuation range sits within a broader set of large crypto-adjacent listings moving through the pipeline this year, including reported plans from other stablecoin and exchange firms seeking multibillion-dollar valuations of their own. That backdrop suggests renewed appetite among crypto companies to access public equity markets after a period in which such listings were less common.
What remains unresolved is whether Blockchain.com's IPO would be structured primarily as a capital raise for the company or as a liquidity event for existing shareholders, and whether the $500M figure represents total proceeds or a target that could shift during bookbuilding. The exchange on which shares might list, the underwriters involved, and the specific timing within the year have not been disclosed. Confirmation from Blockchain.com itself, along with any regulatory filing, would be the next indicators to watch.