TechFlow reported on October 23, citing Bloomberg, that several crypto-related companies—including Circle Internet Financial, Kraken, Fireblocks, Chainalysis, and eToro—may go public within the next one to two years. Although none of these firms have officially filed for IPOs yet, Circle submitted a confidential IPO plan to the U.S. SEC in January this year. Industry observers widely believe that the stringent regulatory stance of current SEC Chair Gary Gensler has led to a scarcity of cryptocurrency IPOs in recent years; he has launched enforcement actions against firms such as Coinbase, Binance, and Kraken.
Haseeb Qureshi, managing partner at crypto venture fund Dragonfly Capital, said that regardless of whether Trump or Harris wins the November U.S. presidential election, the post-election environment will be favorable for crypto company IPOs. Trump has pledged to fire Gensler if elected and push the SEC toward policies more supportive of the crypto industry, while Harris has expressed support for establishing an appropriate regulatory framework for digital assets. Qureshi also noted that while companies currently in conflict with the SEC may still face challenges, firms like Fireblocks and Chainalysis might be able to complete their IPOs more smoothly before next fall.
