Kraken Raises $500 Million Pushing $15 Billion Valuation Ahead of IPO

Key Highlights

• Kraken raises $500M and reaches $15B valuation before IPO
• $1.5B NinjaTrader deal adds 2M users as expansion accelerates
• Tokenized stocks fuel growth as IPO delays stir investor debate

Kraken Secures $500M as IPO Delays to 2026

Founded in 2011, crypto exchange Kraken has raised $500 million in its latest funding round, pushing its valuation to $15 billion.

The company has long been preparing for an initial public offering (IPO), but the listing has now been postponed to 2026, Fortunereported. Despite the delay, the move cements Krakens position among the strongest crypto exchanges preparing to go public.

Rapid Expansion and Big Deals

While its recognition may trail competitor Coinbase, Kraken has carved out a reputation among professional traders and institutional investors. Over 2024–2025, the exchange has been on an aggressive expansion drive, securing new products, markets, and high-profile acquisitions.

In one of its boldest moves, Kraken spent $1.5 billion to acquire NinjaTrader, a leading trading platform with more than 2 million users.

However, internal changes have raised questions about the timing of its IPO. Since co-founder Jesse Powell stepped down in 2022, Sethi and Dave Ripley have taken over, with Sethi emerging as the key decision-maker. His arrival brought a series of management exits, including the CTO, COO, and legal counsel. Kraken insists these shifts were strategic restructuring moves.

The IPO Path Forward

The wider crypto market is enjoying a surge of IPO activity, with Circle, Gemini, and Bullish successfully going public. Krakens decision to push its IPO to 2026 comes with risks, particularly if market conditions weaken. Yet investors remain optimistic thanks to its institutional-first approach.

“Our model is built on professional traders and institutions. Kraken Pro, our robust API, and streamlined interfaces make us the go-to exchange not for flash, but for execution and liquidity,” Sethi said.

With $500 million in fresh funding and a $15 billion valuation, Kraken is betting its long-term strategy will pay off when it finally steps onto Wall Street.