A Look at Major Cryptocurrency Stocks That Went Public in

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The public listing of cryptocurrency-oriented companies marks a significant evolution in the digital‐assets landscape, transforming firms once confined to startup status into mainstream players subject to regulatory scrutiny and investor expectations. This article explores how major crypto-firms have gone public, what it means for the industry and investors, and how their trajectories differ from traditional listings.

Major Crypto Firms That Went Public

Several notable companies tied to crypto have entered public markets. For example, entity[“organization”,”Coinbase Global”,0] (ticker COIN) was one of the first major crypto exchanges to list publicly, establishing a template for others. citeturn0search7turn0search9 In 2025 the firm entity[“organization”,”Circle Internet Financial”,0] (issuer of the USDC stablecoin) launched an IPO and saw its shares jump dramatically on debut. citeturn0search5turn0search6turn0search9 Another example: entity[“organization”,”Bullish Global”,0], an exchange platform, raised roughly $1.1 billion in its 2025 IPO and achieved a valuation around $13 billion. citeturn0search5turn0search11turn0search6 These listings reflect growing acceptance of crypto infrastructure firms as investible public‐market entities.

Key Drivers and Market Implications

The movement of crypto companies into public markets is driven by several factors. One is increased investor appetite: firms like Circle and Bullish attracted strong demand on listing, showing that equity markets are willing to embrace crypto-native businesses. citeturn0search5turn0search6 Another driver is regulatory and institutional maturation: as the regulatory environment becomes clearer and institutional investors more comfortable, companies feel more prepared to go public. citeturn0search9turn0search6 The implications for the industry are significant: public listings bring transparency obligations, stronger governance, and more direct linkage between company performance and investor expectations. For investors, it opens a way to gain exposure to crypto themes via traditional equities rather than direct token investing.

Challenges, Risks and Things to Watch

Despite the optimism, there are specific risks and challenges thatl?? ??? ???? ???????????? must consider. Because many of these companies’ fortunes are closely tied to the broader crypto market, they remain vulnerable to crypto-asset price swings and regulatory shocks. For instance, even after listing, an exchange like Coinbase faces competitive pressures and regulatory scrutiny. citeturn0search9 Additionally, valuations may reflect not just current earnings but strong growth expectations, which brings risk if growth fails to materialize. Lastly, the choice of listing route (traditional IPO vs direct listing vs SPAC) and the associated lock-up periods, corporate governance and market sentiment all influence outcomes. citeturn0search7

In summary, ????? ????? the public listing of crypto-related companies signals a maturation of the digital‐asset industry, offering both opportunity and caution. Investors now have more traditional vehicles to access crypto themes, but must remain aware of the unique risks tied to this hybrid arena of finance and technology.

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