Crypto IPOs Slow Sharply as 140 Firms Back Blockchain Infrastructure
Updated
Updated · CoinDesk · Jul 8
Crypto IPOs Slow Sharply as 140 Firms Back Blockchain Infrastructure
3 articles · Updated · CoinDesk · Jul 8
Summary
Several major crypto firms, including Kraken parent Payward, Consensys, Ledger and Grayscale, have delayed IPO plans as the market for new listings cools sharply in 2026.
Capital has rotated from crypto into AI and other tech sectors, while volatility, softer trading volumes and concern over aftermarket support have made investors wary of backing new crypto stocks.
Lopez said macro pressure from interest-rate uncertainty and global deleveraging could keep the market largely shut until next year, with bitcoin's cycle potentially bottoming around October.
Blockchain.com and FalconX are still pursuing U.S. listings, but Lopez said public-market candidates are better positioned if they diversify beyond pure crypto trading.
More than 140 financial institutions and payments companies are building stablecoin and tokenized-settlement infrastructure, suggesting long-term winners may be blockchain providers even as many smaller tokens fade over 3 to 5 years.