Kraken has delayed its initial public offering to at least April 2027, according to a report from CoinDesk. The postponement extends a series of missed IPO targets that began in 2021.
In April 2021, Kraken CEO Jesse Powell told CNBC the exchange was "looking at being able to go public sometime next year." By June 2021, Powell reconsidered a direct listing strategy after Coinbase's public debut and pushed the target to the second half of 2022. That timeline proved overly optimistic.
In September 2022, incoming CEO Dave Ripley told reporters the exchange had "no specificity on IPO plans that we can share." The year ended without an offering.
Recent Filings and Delays
By June 2024, Bloomberg reported that Kraken was raising what it described as "final" pre-IPO financing, though no offering materialized. In March 2025, the outlet reported that Payward, Kraken's parent company, was rescheduling the IPO for January through March 2026.
By November 2025, Payward submitted a draft IPO document to the SEC on Form S-1, signaling an offering was expected after regulatory review. In March 2026, however, CoinDesk reported that Payward had put the IPO on hold and was unlikely to proceed.
One month later, Co-CEO Arjun Sethi confirmed that formal IPO filings had been submitted in April 2026 without providing a new listing date. At the Consensus conference on May 5, 2026, Sethi stated Kraken was "about 80% ready" for an IPO. Within two weeks, Bloomberg reported the offering would shift to 2027.
Kraken shares do not currently trade on any public stock exchange.
