Kraken ahead of IPO... "Will bring new capital into cryptocurrencies"

Next year, U.S. cryptocurrency exchange Kraken's initial public offering (IPO) is expected to bring a large amount of new capital into the cryptocurrency industry.

Dan Tapiero (Dan Tapiero), CEO of 50T Fund, said on X on the 23rd (local time), "Privately held digital asset companies with proven track records are beginning to list on the traditional finance (TradFi) market, opening up a whole new world of liquidity." Tapiero said, "Kraken's IPO is imminent, and (cryptocurrency industry) mergers and acquisitions (M&A) are accelerating," and "the bull market for Bitcoin (BTC) and digital assets is still in its middle phase."

Earlier, Kraken filed an IPO application with the U.S. Securities and Exchange Commission (SEC) in early last month. The underwriters are Goldman Sachs and Morgan Stanley, and it is expected to list as early as the first quarter of next year. Kraken was valued at US$20 billion (about KRW 29 trillion) in the course of this listing push.

However, industry views on next year's Bitcoin price outlook are divided. Global asset manager Fidelity recently predicted that Bitcoin will show a downward trend next year. Fidelity's key support range for Bitcoin next year is US$65,000–75,000.