Gate News message, April 15 — Kraken co-CEO Arjun Sethi confirmed on Tuesday that the crypto exchange has confidentially filed for a U.S. initial public offering (IPO). Deutsche Börse Group committed $200 million for a 1.5% fully diluted stake, valuing Kraken at $13.3 billion.
Kraken first disclosed its IPO plans in November 2025, filing a draft S-1 registration statement with the SEC. The exchange had frozen its IPO less than a month ago as Bitcoin dropped 40% from its October peak during the “crypto winter.” The company previously raised $800 million at a $20 billion valuation in November.
Bitcoin has rebounded in recent weeks, touching $76,000 on Tuesday—a level not seen since February. The flagship cryptocurrency is up 9% in April. Sethi, speaking at the Semafor World Economy Summit in Washington, D.C., said Kraken aims to bring advanced trading strategies typically available only to institutional investors to retail users.
Competitor exchange Gemini Space Station’s stock has risen 15% month-to-date but remains down nearly 49% from its peak.
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