{"id":44195,"date":"2021-06-11T16:25:20","date_gmt":"2021-06-11T13:25:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44195"},"modified":"2025-08-31T15:51:14","modified_gmt":"2025-08-31T12:51:14","slug":"kraken-rethinks-ipo-stance-after-coinbase-debut","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/kraken-rethinks-ipo-stance-after-coinbase-debut\/","title":{"rendered":"Kraken rethinks IPO stance after Coinbase debut"},"content":{"rendered":"

The cryptocurrency exchange Kraken could abandon a direct listing in favour of a more traditional procedure IPO<\/span>. This was disclosed by the company’s chief executive, Jesse Powell, in Fortune<\/a>.<\/p>\n

Earlier Kraken planned to follow Coinbase’s example and conduct a direct listing<\/span> of its shares in 2022. But Powell has now questioned such an approach. In his words, the company is taking a ‘more serious’ look at an initial public offering.<\/p>\n

In April 2021 Coinbase listed its shares on the Nasdaq<\/a> under the ticker COIN. On the first day of trading, shares closed at $328.28, and the Bitcoin exchange’s market capitalization stood at $85.7 billion.<\/p>\n

On June 10, Coinbase’s shares traded at around $221.85 \u2014 the stock had fallen more than 32% from its initial value. The company’s market capitalization was $46.29 billion.<\/p>\n

\"Kraken
Data: Google.<\/figcaption><\/figure>\n

Powell blames the volatility on the competitor’s chosen route to public status. Unlike an IPO, where investment banks control the pricing process, a direct listing allows the market to determine the price more independently.<\/p>\n

During a direct listing, existing shareholders are also not prohibited from selling their shares after the company’s debut.<\/p>\n

\n

“In light of the direct listing results, the IPO looks somewhat more attractive. I would say we are taking this possibility more seriously now, with Coinbase in view as an example,” Powell said.<\/p>\n<\/blockquote>\n

The CEO confirmed that Kraken plans to list its shares on a public market in the second half of 2022. He also ruled out a SPAC deal, as the Bitcoin exchange is already ‘too big’.<\/p>\n

He said that by then Kraken would gain access to a more detailed analysis of Coinbase’s listing, and investors would begin to place greater trust in the cryptocurrency industry.<\/p>\n

In April 2021, the Rothschild-founded investment fund RIT Capital Partners<\/a>, founded by Lord Jacob Rothschild, became a co-owner of Kraken. The fund’s interest in the company is linked to its plans to go public.<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency exchange Kraken could abandon a direct listing in favour of a more traditional initial public offering. This was stated by Kraken’s chief executive, Jesse Powell.<\/p>\n","protected":false},"author":1,"featured_media":44196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,193,1211],"class_list":["post-44195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-kraken","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44195"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44195\/revisions"}],"predecessor-version":[{"id":44197,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44195\/revisions\/44197"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44196"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}