Key Takeaways
- Cryptocurrency platform Blockchain.com is pursuing a $500 million public offering in the current year.
- The firm aims for a market capitalization ranging from $4 billion to $6 billion.
- A confidential Form S-1 registration document was submitted to the SEC during May.
- This initiative coincides with Bitcoin’s surge of over 30% from its mid-August levels.
- A strategic partnership with NYSE was recently announced to develop tokenized equity trading capabilities.
Cryptocurrency platform Blockchain.com is moving forward with plans to enter the public markets this year. The digital asset exchange and custodial wallet service provider intends to secure approximately $500 million through its stock market debut.
Bloomberg published the exclusive information on September 29, based on sources with direct knowledge of the situation. According to the publication, Blockchain.com is pursuing a company valuation in the range of $4 billion to $6 billion.
These figures remain flexible. The organization may adjust the offering amount based on prevailing financial market dynamics. Both the schedule and financial terms remain provisional at this stage.
When contacted for verification, a company representative from Blockchain.com chose not to provide commentary regarding these reported intentions.
Journey Toward Public Markets
The company’s path to becoming publicly traded began several months ago. On May 21, Blockchain.com officially acknowledged that it had privately filed a preliminary registration document—the Form S-1—with the Securities and Exchange Commission.
During that announcement, the firm had not yet determined specific details regarding share quantity or pricing parameters. Company officials indicated that proceeding with a public offering would be contingent upon favorable market dynamics and successful completion of the SEC’s evaluation process.
Due to the confidential nature of the submission, offering specifications were not disclosed publicly. The reported $500 million fundraising goal and the $4 billion to $6 billion valuation range represent preliminary targets rather than confirmed figures.
Established in 2011, Blockchain.com initially provided blockchain data tracking services for the Bitcoin network. The platform subsequently diversified into cryptocurrency custody solutions and trading services.
The organization reached a peak valuation of $14 billion during 2022, coinciding with the previous cryptocurrency market expansion. By 2023, the company completed a $110 million funding round at a significantly reduced valuation, representing less than half its previous assessment.
According to company disclosures, Blockchain.com has accumulated $537 million in total equity capital throughout its operational history. Sources familiar with the company’s financial performance indicate it has maintained adjusted profitability for three consecutive years.
Crypto Sector Public Offerings
Blockchain.com’s planned debut would add to the limited number of cryptocurrency companies that have recently entered public markets. Gemini completed its Nasdaq listing in September 2025, establishing an initial share price of $28 and securing $425 million in capital.
Gemini’s stock performance subsequently declined. Previous reports indicated shares had fallen more than 80% below their initial trading day closing value by March 2026.
eToro conducted its May 2025 public offering, raising $620 million with shares priced at $52. The equity experienced nearly 30% appreciation during initial trading but has since retreated from those levels.
BitGo established its IPO pricing at $18 per share in January 2026, generating approximately $212.8 million in proceeds. Trading commenced on the New York Stock Exchange.
Bullish, a cryptocurrency trading platform supported by investor Peter Thiel, submitted its U.S. IPO documentation in July 2025. Financial disclosures revealed the company recorded a $349 million net deficit during the first quarter of that period.
Bitcoin’s value has appreciated more than 30% from its mid-August baseline. This upward momentum followed a U.S. Treasury Department statement regarding expanded repurchase activity for longer-maturity government securities.
Nevertheless, equity positions in Gemini, BitGo and eToro remain approximately 50% to 80% below their peak post-listing valuations, according to Bloomberg data.
On September 23, Blockchain.com revealed a memorandum of understanding with the New York Stock Exchange. This arrangement would investigate providing platform users with access to tokenized representations of U.S. equities and exchange-traded fund products.
The framework represents an exploratory arrangement rather than an operational service. No implementation timeline has been established and regulatory authorization is still required.
The NYSE initially unveiled its digital securities platform in January 2026. The description outlined a system designed for continuous trading of tokenized stocks with immediate settlement capabilities.
Currently, Blockchain.com has not revealed specific share pricing, the total number of securities to be offered, or a definitive listing timeline. The public offering remains dependent on market circumstances and completion of SEC regulatory review.
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