Kraken is gearing up for a new move into the public markets. A company linked to the exchange has filed for the launch of a $250 million SPAC, with a clear ambition: to serve as a listing vehicle for crypto ecosystem companies and strengthen Kraken’s footprint in traditional finance.
A SPAC Tailored for Crypto
Named KRAKacquisition Corp., the structure envisions an initial public offering of 25 million units at $10 each, totaling $250 million. Each unit will consist of a common Class A share and a portion of a warrant, entitling the holder to purchase additional shares later.
If approved, the SPAC will be listed on the Nasdaq Global Market under the ticker KRAQU. Santander bank is cited as the sole coordinator of the operation, signaling a commitment to traditional institutional financial frameworks.
Like any SPAC, KRAKacquisition has not yet identified a specific target. However, its scope is explicitly defined: companies operating within the cryptocurrency ecosystem and blockchain infrastructures.
A Logical Extension of Kraken’s Strategy
This filing is part of a coherent strategic sequence. Kraken confirmed in November its plans for its own public offering, following a $500 million fundraising in the fall, based on a valuation of $15 billion.
The SPAC provides an alternative and complementary route. It allows Kraken to facilitate access to public markets for partner companies or strategic infrastructure components, without waiting for each to individually meet all the conditions of a traditional IPO.
The very name of KRAKacquisition is significant. It evokes Krak, the payment solution developed by Kraken, suggesting an integrated ecosystem logic, where services, liquidity, and infrastructure reinforce each other.
The Resurgence of Crypto IPOs
This initiative comes in a more favorable context for digital asset-related listings. Last year, several crypto companies made the leap to public markets, with varying outcomes. Some received a very positive reception, while others had more hesitant beginnings, highlighting the sector’s inherent volatility.
Nevertheless, the window seems to be open again. The gradual clarification of the US regulatory framework and the return of risk appetite encourage major players to consider listing as a credible lever for growth and legitimization.
Beyond capital raising, this SPAC is a positioning tool. It allows Kraken to take a central role, not only as an exchange but as a structuring actor capable of supporting the industry’s maturation.
