Blockchain.com, one of crypto's oldest wallet and brokerage platforms, has confidentially filed for a planned U.S. initial public offering, giving it a private path through the U.S. Securities and Exchange Commission review process before deciding whether to list.
The company said in a May 21 press release that it submitted a draft registration statement on Form S-1 to the SEC for a proposed IPO of Class A ordinary shares. The London-headquartered company hasn't decided how many shares it plans to sell or what price range it will seek.
The filing says intent, not timing
The move shows Blockchain.com wants to be ready for a public listing, but it doesn't guarantee an IPO will happen. The company said the offering is still subject to market conditions and completion of the SEC review process.
Founded in 2011 by Nicolas Cary, Peter Smith, and Benjamin Reeves, Blockchain.com says it has created more than 100 million wallets, served 39 million verified retail users, worked with more than 1,500 institutional clients and processed more than $1 trillion in transactions.
But the filing comes as crypto companies are still trying to figure out whether public markets are open again. For instance, Ledger, the French hardware wallet maker, has paused its U.S. IPO plans because market conditions have cooled investor appetite for new crypto listings.
Consensys, the Ethereum software firm behind MetaMask, has also delayed a potential U.S. IPO until at least the fall. Grayscale and Kraken have also filed or announced IPO plans, but neither had completed a listing.