The recent bullish trend in the Bitcoin and cryptocurrency markets may trigger a wave of initial public offerings (IPOs). Bloomberg reported that as Bitcoin prices approached a record high, the crypto industry is preparing for a possible wave of IPOs.

If crypto asset prices continue to rise, we could see the largest cryptocurrency-related IPOs ever in the next 18 months, according to Matthew Kennedy, senior market strategist at Renaissance Capital, in a Bloomberg interview on June 6. Kennedy expects as many as 15 companies to go public if the market maintains its current growth momentum.

The rise of cryptocurrency IPOs

The analyst believes that even if the price of Bitcoin remains at around $70,000, it will still incentivize more crypto companies to go public. He noted: "If Bitcoin maintains its current trajectory, I believe this will open the door. Even if it remains at current levels, it will support more public offerings."

In January 2024, the U.S. Securities and Exchange Commission (SEC) approved a spot Bitcoin ETF, and four months later approved an Ethereum ETF, marking a dramatic change in the overall view of cryptocurrencies. Crypto companies such as Chia Network and Circle have filed draft registration statements for IPOs, either confidentially or publicly, and are expected to do so as early as this year. In addition, trading platform eToro is also considering an IPO, while Animoca Brands has several businesses planning to IPO in 2025 or 2026.

Despite facing SEC charges, U.S. crypto exchange Kraken has been planning to go public and is discussing raising a round of pre-IPO capital. On June 6, media reported that Kraken aims to raise $100 million before its IPO.

Institutional investors are increasingly interested in cryptocurrencies, with Bloomberg reporting that nearly 40% of family offices are actively investing or exploring cryptocurrency investments. Meanwhile, a record 43% of U.S. retail investors plan to buy cryptocurrencies in the next year, according to a new survey by Motley Fool.

Cryptocurrency Market Predictions

While the cryptocurrency market cap has remained stable over the past few days, Bitcoin, as the market leader, has maintained its gains, keeping its price above $70,000, just 3.4% below its all-time high.

Robert Kiyosaki, author of Rich Dad Poor Dad, predicted earlier this week that the price of BTC will reach $350,000 by the end of August this year.

Analysts at Secure Digital Markets also said that Bitcoin seems to be preparing to attack its all-time high, with only a 4% gap left. Bitcoin prices breaking through the six-digit mark may indeed further promote the listing activities of crypto companies. #加密货币 #IPO #价格预期

Conclusion:

As the Bitcoin and cryptocurrency markets have matured, market acceptance of this type of asset has increased significantly. Analysts generally expect that cryptocurrencies will usher in an unprecedented boom in IPOs driven by the current bullish trend. This not only highlights the potential of the crypto industry, but also reflects the market’s increasing confidence in financial innovation and all parties involved.

As more and more companies join the public market, the mainstreaming of cryptocurrencies will be further accelerated, providing investors with more investment options and opportunities. At the same time, this will also lay a solid foundation for the long-term development of the cryptocurrency industry.