Working against Kraken is a lawsuit brought last year by the SEC, the agency that will have to approve its public listing. It’s worth noting several other exchanges and brokerages, including Israel-based eToro and CoinDesk’s parent company Bullish, explored going public but were blocked by the SEC. Bitpanda, in the E.U., and Bitso, in Mexico, should also be watched, if expanding the conversation beyond U.S. markets.
Breaking News: These Crypto Companies May Go Public in 2021 – Don’t Miss Out!
The world of cryptocurrency has been on a rollercoaster ride in recent years, with the value of popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin skyrocketing to record-breaking highs. This surge in interest and investment has also led to the rise of numerous companies in the crypto space, offering a wide range of products and services to investors and traders.
But the latest news in the crypto world is even more exciting – some of the biggest and most promising crypto companies are preparing to go public in 2021. This means that they will be listed on stock exchanges, opening up a whole new world of opportunities for investors and crypto enthusiasts. In this article, we’ll explore which crypto companies are likely to go public this year and what it means for the future of cryptocurrency.
1. Coinbase
Coinbase is the largest cryptocurrency exchange in the United States, with over 56 million verified users and more than $30 billion in assets traded. The company offers a user-friendly platform and a variety of products, including a wallet, trading platform, and even a Visa debit card that can be funded with cryptocurrency.
In December 2020, Coinbase confidentially filed for an IPO with the US Securities and Exchange Commission (SEC). This means that the company is planning to go public through a direct listing, which allows existing shareholders to sell their shares directly to the public without the involvement of underwriters. According to reports, the IPO could take place in the first half of 2021, making Coinbase the first major crypto company to go public.
2. Robinhood
Robinhood is a popular trading app that has gained a lot of traction in recent years, especially among younger investors. The platform allows users to buy and sell stocks, options, and cryptocurrencies without paying any commission fees. In 2020, Robinhood reportedly had 13 million users, with a large portion of them being first-time investors.
In November 2020, Robinhood confidentially filed for an IPO with the SEC. With its easy-to-use interface and commission-free trading, Robinhood has revolutionized the stock trading industry and is now looking to do the same with cryptocurrency. The IPO is expected to take place in the first quarter of 2021, and it is likely to be one of the most highly anticipated IPOs of the year.
3. Bakkt
Bakkt is a cryptocurrency platform launched by Intercontinental Exchange (ICE), which also owns the New York Stock Exchange. The platform offers institutional-grade custody and trading services for Bitcoin and other cryptocurrencies. Bakkt made headlines in 2019 when it announced the launch of physically settled Bitcoin futures contracts, meaning that traders would receive actual Bitcoin instead of cash when the contracts expire.
In January 2021, Bakkt announced that it will be going public through a merger with a special purpose acquisition company (SPAC) called VPC Impact Acquisition Holdings. This will allow Bakkt to become a publicly traded company without going through the traditional IPO process. The merger is expected to be completed in the second quarter of 2021, subject to regulatory approvals.
4. BlockFi
BlockFi is a cryptocurrency lending and borrowing platform that has gained a lot of popularity in recent years. The platform allows users to earn interest on their crypto holdings or borrow USD against their cryptocurrency collateral. BlockFi has raised a total of $158.7 million in funding and has over $15 billion in assets under management.
In December 2020, BlockFi’s CEO announced that the company is considering a potential IPO in the second half of 2021. The company is currently in talks with investment banks and law firms, and it has already appointed a new CFO to lead the IPO process. If BlockFi goes public, it will be the first cryptocurrency lending platform to do so.
What Does This Mean for Investors?
The announcement of these companies going public in 2021 has sent shockwaves through the crypto world. It signifies the growing acceptance and legitimacy of cryptocurrency, as well as the potential for explosive growth and mainstream adoption in the future. Here are some potential benefits for investors:
– Investment diversification: With these companies going public, investors now have more options to invest in the crypto industry without having to directly purchase Bitcoin or other cryptocurrencies.
– Increased liquidity: The public listing of these companies will provide investors with an exit strategy, allowing them to easily cash out their investments if they choose to do so.
– Increased mainstream adoption: As these companies become publicly traded, it will attract more traditional investors who may have been hesitant to invest in cryptocurrency in the past. This could lead to increased mainstream adoption and further growth of the crypto market.
Practical Tips for Investing in Cryptocurrency
1. Do your research: Before investing in any cryptocurrency or crypto company, make sure you thoroughly understand the technology and its potential risks and rewards. Take the time to research the company, its history, and its financials before making any investment decisions.
2. Diversify your portfolio: As with any investment, it’s important to diversify your crypto holdings to minimize risk. Consider investing in a mix of established and emerging cryptocurrencies, as well as other traditional assets.
3. Stay updated: Keep an eye on the latest news and developments in the crypto world to stay informed and make well-informed decisions about your investments.
In Conclusion
The potential IPOs of these crypto companies are an exciting development for the entire cryptocurrency industry. It not only provides more opportunities for investors but also adds a level of legitimacy and stability to the market. As always, it’s important to do your own research and make informed investment decisions. But with the growing interest in cryptocurrency and the potential for further growth, it’s definitely a space to keep an eye on in 2021.
