The race to take crypto firms public in 2026 just got hotter. After the successful Circle IPO in 2025, now Ledger, one of the world’s largest crypto hardware wallet makers, is preparing for a $4 billion IPO as demand for secure crypto storage rises.
The move comes at a time when hacking risks are growing, pushing more investors toward self-custody solutions.
Ledger Plans U.S. IPO With Major Banks
According to recent reports, Ledger is working with Goldman Sachs, Jefferies, and Barclays on a possible U.S. IPO in New York. The listing could happen as early as this year and may value the company at over $4 billion.
Founded in 2014 and based in France, Ledger was last valued at around $1.5 billion in 2025.
Ledger’s growth comes as crypto hacks increase. Hackers stole over $17 billion last year, raising safety concerns. Because of this, more users are choosing Ledger’s hardware wallets, which are harder to hack and are seeing rising demand from both users and institutions.
Therefore, a successful IPO would mark a major jump in valuation and highlight growing investor interest in crypto infrastructure companies.
Strong Revenue and Bitcoin Holdings
Ledger currently helps secure more than $100 billion worth of Bitcoin for its customers. The company also reported triple-digit million-dollar revenue in 2025, showing strong business momentum ahead of a possible public listing.
The surge in sales reflects a wider shift in the crypto market, where investors are focusing less on speculation and more on protecting long-term holdings.
Ledger CEO Pascal Gauthier said the company is having a record year. He explained that rising security risks are pushing more people toward self-custody, supporting Ledger’s rapid growth and its plan for a $4 billion U.S. IPO.
Crypto IPO Frenzy Gains Momentum
Ledger’s New York listing plans come at a time when several well-known crypto firms are preparing to go public. Notable names like Kraken, Consensys, and Bithumb are also on the IPO watch list, signaling broader market faith in digital asset infrastructure firms.
If Ledger moves forward with its IPO, it would be one of the most notable crypto-related listings in recent years.
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