Blockchain.com said it confidentially filed paperwork with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO).
The number of shares to be offered and the proposed price range have not yet been determined, according to an announcement on Thursday.
A confidential filing allows companies to begin the SEC review process before publicly disclosing financial details tied to the listing. The IPO remains subject to market conditions and completion of the SEC review process.
Blockchain.com is a cryptocurrency financial services company that offers a range of products tied to digital assets, including a crypto exchange, wallet services, institutional trading and lending products.
The company held talks last year about going public in the U.S. through a merger with the a special purpose acquisition company (SPAC), according to reports.
Crypto firms entered 2026 expecting a blockbuster year for IPOs after public debuts from companies including Circle (CRCL) and Bullish (BLSH) (the parent company of CoinDesk) helped reopen investors to digital-asset businesses last year.
But deteriorating market conditions, weaker trading volumes and disappointing post-listing performance from newly public companies like BitGo (BTGO) have since cooled investor appetite.
As a result, several major firms, including Payward, the parent company of crypto exchange Kraken, Ethereum app builder Consensys and hardware wallet maker Ledger, have either delayed or paused their IPO plans altogether while they wait for market conditions to improve.