Crypto bank Anchorage Digital is reportedly in the market to raise between $200 million and $400 million ahead of a potential initial public offering targeted for “next year,” according to Bloomberg on Friday. The firm was last valued at $3 billion.
Market onlookers have long speculated that Anchorage, the first federally chartered digital asset bank, was considering going public, though the company has historically declined to comment on the subject. The Block’s Yogita Khatri listed the custodian as one among many crypto firms that investors considered ripe for an IPO following Circle’s blockbuster public offering last year.
Custody competitor BitGo submitted IPO documentation earlier this week, while exchanges like EU-based Bitpanda, U.S.-based Kraken, and Hong Kong-based HashKey are also looking to go public in their respective regions.
Anchorage has been diversifying its business in recent months, including expanding its wealth management division through the acquisition of Securitize For Advisors and jumping into token lifecycle management by absorbing Hedgey. It has also taken notable steps in the stablecoin sector and venture capital space.
The crypto custodian, which became the first federally chartered digital asset bank in 2021, is facing potential competition from new entrants, particularly as the Office of the Comptroller of the Currency has granted conditional approvals to Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos to become trust banks.
Anchorage was founded in 2017 by Diogo Mónica and Nathan McCauley. The firm is backed by investors including Apollo, Goldman Sachs, and KKR, and raised capital in a $350 million Series D round in 2021.
The Block has reached out to multiple Anchorage representatives for confirmation.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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