Bitcoin rebound supports valuation recovery, cryptocurrency exchange Kraken takes the opportunity to resume plans for US listing.

Kraken CEO Arjun Sethi confirmed on Tuesday that the cryptocurrency exchange has secretly submitted its initial public offering (IPO) application in the United States. In November 2025, media reports suggested that Kraken was planning to go public. At that time, Kraken independently stated in a blog post that it had submitted a registration statement draft for the S-1 form to the U.S. Securities and Exchange Commission (SEC), but the specific issuance date was not clear. According to the Semafor website, Sethi made the above statements at the Semafor World Economic Conference held in Washington, D.C. The executive said that Kraken is committed to providing advanced trading strategies that are typically only available to professional investors to individual investors. It was reported that the valuation of the cryptocurrency exchange has dropped by over $6 billion. Earlier on Tuesday, the Deutsche Brse Group pledged to invest $200 million in Kraken in exchange for a 1.5% fully diluted ownership stake, valuing the company at $13.3 billion. In November of last year, Kraken announced a financing of $800 million at a valuation of $20 billion. Just under a month ago, Kraken reportedly paused its IPO plans due to the "crypto winter" causing a 40% drop in the price of Bitcoin from its all-time high in October. In recent weeks, this flagship cryptocurrency has been steadily rising. On Tuesday, the price of Bitcoin briefly touched $76,000, a level not seen since February, with a 9% increase in April. While competitor cryptocurrency exchange Gemini Space Station's stock price has dropped by nearly 49%, its stock price has risen by 15% so far this month.