Blockchain.com is aiming to raise about $500 million in a US initial public offering by the end of 2026, at a valuation of between $4 billion and $6 billion, Bloomberg reported on Monday, citing people familiar with the matter.
The London-based company, which runs an exchange, a self-custody wallet and trading and lending services, filed confidentially with the Securities and Exchange Commission earlier this year. That route lets it begin the regulator’s review without publishing its financials.
Blockchain.com did not respond to a request for comment from CoinDesk and has not publicly confirmed the plan.
The timing is the interesting part. Crypto listings have been scarce in 2026 after a weak first half for the market, in contrast to last year, when Circle and Gemini both went public. A deal before December would test whether that window has reopened, with bitcoin trading around $84,000 this week.
The range is also a long way below where private investors once put the company. Blockchain.com raised money at a $14 billion valuation in 2022, before the collapse of FTX and a string of crypto lenders dragged the sector down.
What is missing is everything an IPO investor would ask first. There is no public revenue figure, no named underwriter and no chosen exchange, and a confidential filing keeps all of that out of view until the company decides to make it public.
Until then, $6 billion is an ambition relayed through people familiar with the matter, not a price.
