Crypto exchange Kraken has secured $500 million in new funding, attracting heavyweight investors Apollo Global Management, Oppenheimer, Jane Street, and HSG (formerly Sequoia Capital China) in a deal valuing the company at $15 billion, sources told Reuters.
The fundraising round signals a major return of institutional capital to the crypto industry, fueled by pro-crypto policies under the Trump administration. Other participants include Qube Research & Technologies, Kraken’s co-CEO Arjun Sethi, and Tribe Capital, which Sethi co-founded.
The investment sets the stage for Kraken’s long-anticipated IPO, expected to be filed confidentially with the SEC by the end of 2025, with a listing as early as the first quarter of next year.
Kraken has accelerated its U.S. expansion this year through acquisitions, including a $1.5 billion deal for NinjaTrader and a $100 million purchase of Small Exchange from IG Group, as it builds a full-scale derivatives trading operation.
The surge in institutional crypto activity has paralleled Bitcoin’s recent rally — the world’s largest cryptocurrency has gained more than 20% year-to-date, touching an all-time high above $126,000 this month.
With investors from Wall Street to Asia now backing major crypto platforms, the industry’s next phase appears to be defined by mainstream adoption and financial integration rather than speculation.
