Jack Mallers–led Twenty One Capital will begin trading on the New York Stock Exchange under ticker XXI on December 9. The move positions the firm as the latest Bitcoin-focused company to go public amid a friendlier regulatory backdrop under President Trump.
New York brokerage Clear Street is preparing an IPO that could value the firm at $10–12 billion, the Financial Times reports. The plan follows its emergence as a major underwriter for crypto treasury deals.
Dunamu, parent of South Korea’s Upbit exchange, is reportedly exploring a Nasdaq listing after a merger with Naver, a move that could open U.S. investor access to Korea’s crypto market. Details remain preliminary and timing is unclear.
Thailand’s Bitkub is reportedly exploring a Hong Kong IPO to access international capital and raise its regional profile, Bloomberg sources say. The plan would bolster investor visibility but faces timing and regulatory questions.
PayPay, operated by SoftBank, is integrating with Binance Japan as it prepares for an anticipated U.S. IPO in December; the move ties a mainstream payments app to a major crypto exchange. SoftBank also backs one of the world’s top 10 public Bitcoin holders.
Kraken submitted a confidential IPO filing just days after closing an $800 million funding round, seeking to lock in momentum as U.S. regulators edge toward clearer crypto rules. The move signals confidence in a firmer regulatory path and a bid to reach public markets while sentiment is favorable.
Kraken said Wednesday it has confidentially submitted paperwork for a U.S. IPO, beginning the formal registration process with the SEC. The confidential filing starts review while keeping deal terms under wraps, so timing and valuation remain uncertain.
Grayscale Investments has filed to list on the New York Stock Exchange, taking the crypto asset manager that runs major Bitcoin and Ethereum ETFs toward a US public listing. The move could widen institutional access and raise growth capital for its ETF and investment product business.
Grayscale Investments submitted an S-1 registration statement to the SEC on Nov. 13, 2025, seeking to list common stock in an initial public offering, a major step toward public-market access. The filing highlights growing institutionalization of crypto asset managers.
Phantom CEO Brandon Millman told the Empire Podcast the company has no plans for an IPO or to launch its own blockchain and will instead keep building on Solana to simplify crypto for everyday users.