BroadChain has learned that on April 15, CNBC reported Kraken Co-CEO Arjun Sethi confirmed the cryptocurrency exchange has confidentially submitted an IPO application to the U.S. Securities and Exchange Commission (SEC).
Data indicates Kraken's current valuation stands at approximately $13.3 billion, a decline from its roughly $20 billion valuation in November 2025. The company had previously paused its listing plans due to market conditions.
In a related development, Deutsche Börse has committed to investing approximately $200 million to acquire about 1.5% of Kraken's fully diluted equity.