Blockchain.com Seeks $500 Million for Potential IPO

Blockchain.com is seeking to raise about $500 million in an IPO that would value the company at $4 billion to $6 billion, Bloomberg reported. The digital asset platform is pitching investors on a listing later this year, though final terms remain fluid.

Executives would consider a smaller offering if needed, according to the report. Blockchain.com confidentially filed offering materials with the U.S. Securities and Exchange Commission earlier this year.

The company has recorded three consecutive years of adjusted profitability, the report said. Its IPO plans come as crypto capital markets show signs of thawing, with Bitcoin recovering 33% since mid-August.

A debut would test institutional interest after a turbulent period for crypto listings. Gemini, Bullish and eToro listed before Bitcoin reached record highs, while shares of Gemini, BitGo and eToro later fell roughly 50% to 80%, according to the report.