Blockchain.com has filed for an initial public offering with the U.S. Securities and Exchange Commission. The crypto firm submitted its registration statement on Thursday, kicking off the process to list shares on a U.S. stock exchange. The filing doesn't yet include the number of shares to be offered or a price range.
The S-1 filing
The paperwork, known as an S-1, is the standard registration document for U.S. IPOs. It will eventually detail the company's financials, business operations, and risk factors. Blockchain.com hasn't said which exchange it plans to list on or what ticker it will use. The filing was expected after the company's previous fundraising rounds and hiring of investment banks, though those specifics aren't in the public document yet.
The review process
The SEC will now examine the registration statement for completeness and compliance. That review can take weeks or months. Once the SEC declares the filing effective, Blockchain.com can set an IPO price and begin a roadshow to market the deal to institutional investors. The company has not disclosed a target date for the listing.
Investors will get their first look at Blockchain.com's financial health when the S-1 becomes publicly available — typically after the SEC completes its initial review. The company has been a player in crypto since well before the last bull run, but its revenue and user numbers have stayed private until now. The timeline for the IPO remains uncertain; the SEC could request amendments or additional disclosures before clearing the filing.
