Remember 2021? Crypto was on fire. Bitcoin was ripping past all-time highs, altcoins were pumping like there was no tomorrow, and your Twitter feed was a sea of green candles. It was the kind of market that made everyone feel like a genius.
And then came the cherry on top: Coinbase went public. That IPO wasn’t just a flex for Coinbase—it was a signal to the world that crypto had officially hit the big leagues. Institutions took notice, and the money followed.
Now, here we are in 2025. The vibe isn’t full-blown euphoria (yet), but if you listen closely, you’ll hear the gears turning. Behind the scenes, a fresh wave of crypto IPOs is brewing, and things look even more promising this time.
We constantly scan the horizon for what’s next at Bull Crypto Signals. Based on our research, analysis, and gut instincts sharpened by years in this wild market, here are five crypto IPOs that could take off this year—and why you’ll want them on your radar.
Why Should Crypto Traders Even Care About IPOs?
Good question. Let’s break it down.
An Initial Public Offering (IPO) is when a private company lists its shares on a public stock exchange—inviting anyone with capital to invest. This move signals that crypto companies’re ready for prime time.
Here’s why this matters for you:
- Institutional legitimacy: IPOs make crypto firms palatable to traditional investors.
- Trust boost: Retail investors feel more confident putting money into companies that follow the rules.
- Funding power: IPOs bring cash for expansion, acquisitions, and innovation.
- Ripple effects on crypto markets: A successful IPO can elevate everything it touches—from stablecoins to altcoins and even DeFi.
While many crypto projects launch through ICOs (Initial Coin Offerings), those are usually underregulated and riskier. IPOs, on the other hand, go through the regulatory wringer—which, ironically, is a good thing right now. The timing couldn’t be better as the SEC shifts into a more crypto-friendly mode.
So, let’s dive in. Here are five upcoming IPOs that could change the game in 2025.
1. Circle – The Stablecoin Superpower
Let’s be honest: Circle’s already a beast. As the issuer of USDC, the second-biggest stablecoin by market cap, Circle plays a massive role in DeFi and crypto trading.
What’s the Big Deal?
- USDC is backed 1:1 by U.S. Treasuries and cash
- Circle partners with Coinbase and previously co-managed the Centre Consortium
- They’re compliant with MiCA in Europe and just got the green light to expand into Japan
- Their stablecoin is live on more than 18 blockchains, with more on the way
IPO Buzz
- Filed with the SEC in January 2024
- Moving HQ from Boston to NYC in anticipation of the IPO
- Estimated valuation: around $5 billion
- Raised $1.1 billion across 14 funding rounds
Why Traders Should Care
A successful IPO would significantly boost confidence in USDC, which could drive growth in DeFi platforms across Ethereum, Solana, and other chains.
Pro Tip: Watch for altcoin trading pairs that rely on USDC. Once the IPO hype gains steam, adoption could ramp up fast.
2. Kraken – The OG Exchange Ready for Wall Street
Kraken has been around since 2011—in crypto years, that’s ancient—and we mean that in the best way. It’s one of the most trusted, secure, and regulation-savvy exchanges.
What They Offer
- Spot, margin, and futures trading
- Fiat support for USD, EUR, GBP
- Staking, Pro accounts, and solid liquidity
- A user base of more than 13 million
IPO Status
- IPO planning has been in the works since 2021
- Looking to raise $100 million before going public
- Officially targeting early 2026, but this could move up
Regulatory Outlook
Kraken’s had its run-ins with the SEC. However, the legal clouds are clearing with a leadership and policy direction change. The SEC dropped its lawsuits, giving Kraken a green light to move forward.
Market Impact
If Kraken goes public, it could trigger a wave of IPOs from other exchanges and further solidify centralized platforms as secure entry points for institutional investors.
3. Animoka Brands – The Metaverse Powerhouse
Based in Hong Kong, Animoka Brands has become dominant in blockchain gaming, NFTs, and the metaverse. If it’s Web3-related, chances are Animoka is involved.
Highlights
- Creator of The Sandbox, one of the biggest metaverse hits from the last bull run
- Deep investments across the GameFi sector
- It also offers consulting and venture capital for Web3 startups
IPO Plans
- Previously listed on the Australian Stock Exchange but delisted in 2020
- Now eyeing a return—possibly via listings in Hong Kong or the Middle East
- Aiming for a late 2025 IPO, depending on market conditions
Why It’s Big
Hong Kong is quickly becoming a global hub for Web3 development. A successful Animoka IPO could bring serious energy back to the metaverse space.
Altcoin Insight: Scan Animoka’s massive portfolio. Many of those 540+ projects have tradable tokens that could catch fire with the right momentum.
4. Bullish Global – Built for Institutions, Backed by Giants
Bullish may be newer to the game, but it’s already playing in the big leagues. With investors like Peter Thiel and Mike Novogratz, plus a recent acquisition of CoinDesk, Bullish is positioning itself as a top-tier platform for serious traders.
What to Know
- Launched in December 2021
- Focused on institutional and professional crypto trading
- Attempted a $9 billion SPAC in 2021 but canceled due to market volatility
- Currently working with JP Morgan Chase and Jeff Financial Group on a new IPO plan
Market Outlook
A successful Bullish IPO could draw significant institutional interest in major cryptocurrencies like Bitcoin, Ethereum, Solana, XRP, and Cardano.
Why It Matters
Bullish wants to compete with the big boys—and an IPO would give it the credibility and capital to do just that. Expect this move to attract Wall Street’s attention in a big way.
5. Chainalysis – The Eyes and Ears of the Blockchain
Chainalysis is the go-to name for crypto compliance and forensics. Their analytics software is used by everyone from law enforcement to major exchanges.
Who’s Using It?
- Agencies like the FBI, SEC, and DEA
- Crypto platforms, including Binance, Coinbase, and Kraken
- Financial institutions like Fidelity, Grayscale, and Barclays
IPO Talk
- Raised $563 million in funding since 2015
- Named by Bitwise as a top IPO candidate for 2025
- Positioned as a vital compliance tool for the entire blockchain ecosystem
The Bullish Case
A Chainalysis IPO would suggest that compliance is no longer optional—it’s foundational. That level of clarity could open the floodgates for institutional investment.
Interestingly, this also boosts interest in privacy coins like Monero and Zcash, as more tracking increases the demand for untraceable alternatives.
So, What Does This All Mean for the Market?
If even a few of these IPOs go through, 2025 could mark a turning point for the entire crypto ecosystem.
Institutional Confidence Is Building
- Public companies are easier for traditional investors to trust
- More regulatory clarity could unlock pension fund and hedge fund capital
Regulation Is Getting Smarter
- The SEC is shifting from “ban everything” to “weed out the bad actors.”
- ICOs might even make a legal comeback—this time, under proper oversight
Innovation Will Accelerate
- IPO capital gives companies the fuel to innovate
- Expect better platforms, tools, and services across DeFi, trading, and blockchain infrastructure
Key Takeaways
- Circle, Kraken, Animoka Brands, Bullish, and Chainalysis are top crypto IPO contenders for 2025
- Their success could legitimize the industry and spark a new adoption wave
- Crypto signals, altcoin trading strategies, and Bitcoin price analysis will become even more valuable as institutional players enter the space
Final Thoughts
Crypto IPOs aren’t just headlines; they signal that the industry is maturing. If you’re a trader, investor, or just crypto-curious, this is your window to stay ahead of the curve.
At Bull Crypto Signals, we’ll keep breaking down what matters before the rest of the market catches on.
Follow us for the latest market insights, exclusive crypto signals, and trading tips designed for actual traders who want accurate results.
Don’t just watch the future of crypto unfold—trade it.
