Republic Europe says it will make an investment available on Kraken, a top crypto exchange, in the form of an SPV (special purpose vehicle) soon.
Republic Europe (formerly Seedrs) has been a leader in expanding the types of investments available to its users. Beginning as an online capital formation platform for early-stage firms, the platform today offers a broader range of offerings, including early- and later-stage funds and digital assets. It also operates one of the most effective secondary marketplaces for securities sold on the platform.
Kraken is a top-20 crypto exchange, trading around $1.2 billion in value per day. It also offers futures, traditional U.S.-listed stocks, and ETFs for its registered users.
The 14-year-old platform reports over 13 million users worldwide.
Kraken is expected to become a publicly traded firm in early 2026, having confidentially filed its S-1 registration statement with the SEC back in November 2025. At its last valuation, Kraken was worth about $20 billion.
Republic Europe shares that Kraken generated revenue of around $1.6 billion in 2024, an increase of 138% over the year prior.
Kraken is profitable, having generated EBITDA of $421 million in 2024.
Investors in the SPV will not acquire direct shares but rather an entity that represents an indirect holding. Once the offering is completed, the SPV will acquire shares in Kraken. Republic Europe notes that liquidity may be limited, so investors should be patient. The offering should be available soon for registered investors.
Investors should hope for a rise in value when the IPO share price is announced.
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