The crypto predictions are pouring in for next year, and — if I’m being honest with you — it’s hard to contain the excitement. Maybe it’s only Friday.
This morning, I will be looking specifically at Bitwise’s predictions that were made earlier in the week. It’s worth reading the whole report, but I am focusing on the forecast they made that 2025 would be the year for crypto IPOs.
You can’t argue against that decision. All the pieces seem to be falling into place on paper.
These are my three reasons for predicting a strong year in crypto-IPOs.
- The regulator is actually actively engaging firms, and advancing their paperwork.
- Interest and support of institutions
- Investor appetite
Right? Not really. To go public with crypto you need the perfect post-FTX storm. Circle is a good example if you’re not convinced.
We have yet to see any progress on the stablecoin issuer’s IPO, despite filing a confidential draft with SEC way back in January.
In my previous life as a journalist, I covered IPOs for years. Companies that filed drafts usually file the S-1 within six to eight month or have at least some movement in this area. This is not always true.
Circle’s latest filing is still awaited with eagerness. We may not know exactly what went on behind closed doors, but we are curious to see how things progress. Circle is a firm that I agree with Bitwise as having the greatest potential for public exposure.
Bitwise’s list includes Figure, Anchorage, Chainalysis, and Kraken in addition to Circle.
Adding that to the list, there are two US-listed companies (Exodus and Sol Strategies) as well as a company whose de-SPAC is looking for a listing on NYSE American. One of these is also a public offering.
Retail could benefit from more crypto companies going public. A larger roster of public crypto companies not only lets folks engage with the space without fully diving in — a bonus for a more general audience — but it also builds back much-needed trust.
Not only that, but investors will be able finally to see metrics which were not previously disclosed via documents filed at the SEC.
Don’t get me even started about the amount of capital that could be unlocked.
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