Blockchain.com files confidential S-1 for 2026 IPO

Blockchain.com filed a confidential draft registration statement (S-1) with the U.S. Securities and Exchange Commission, indicating plans for an initial public offering in 2026. The filing did not disclose share counts or a price range.

The Dallas-based company supports more than 95 million wallets and 43 million confirmed accounts and employs about 500 people. It reported adjusted profitability for each of the past three years.

Blockchain.com first considered a public listing in 2022 when its valuation reached $14 billion in the spring. A 2023 Series E round valued the company at less than half of that figure.

The confidential filing follows a wave of crypto-related listings in 2025 and a market downturn since October. Investor demand for crypto IPOs has cooled. Payward, the parent of Kraken, postponed its planned IPO in March and announced about 150 job cuts. Hardware wallet maker Ledger has paused its IPO preparations.

A confidential S-1 allows the company to begin the SEC review process while keeping detailed financial and operational information private until it moves closer to a public offering. Final timing and pricing will depend on market conditions, including token price recovery and investor demand on the listing day.

Blockchain.com offers wallet and exchange services and traces its origins to the early years of cryptocurrency services.