The post Ark Invest Says Circle, Kraken IPOs Possible Under Trump appeared on BitcoinEthereumNews.com.

Cathie Wood’s Ark Invest is optimistic about a more favorable environment for cryptocurrency in the US, tied to new policies under President-elect Donald Trump. The asset manager is popular for operating the ARK 21Shares Bitcoin ETF (ARKB), which currently has $4.44 billion in net assets. IPO Windows For Circle and Kraken, Ark Invest Says In its latest newsletter, the asset management firm expressed optimism that Trump’s return to the White House could allow digital asset firms like Circle and Kraken to go public and achieve regulatory clarity. “Among the possibilities are…the re-opening of the initial public offering (IPO) window for late-stage digital asset companies like Circle and Kraken…,” a paragraph in the newsletter read. Circle, the issuer of USD Coin (USDC) stablecoin, confidentially filed for an IPO in January. However, in June, Barron’s reported that the US SEC had reservations about Circle’s core product, which could delay or impact the company’s listing. The stablecoin issuer also moved its headquarters to the US in May. This was regarded as an effort to bolster market confidence. According to Barron’s, however, the SEC raised concerns about stablecoin risks. The regulator continues to hold a cautious stance on these assets, especially as the market continues to grow. Kraken, another major cryptocurrency exchange, has also been preparing for an IPO. In June, Bloomberg reported that the company raised $100 million in a pre-IPO funding round. This demonstrated strong investor interest and confidence in its future. Kraken’s public listing, however, would also depend heavily on regulatory support and legislative progress. In the United States, multiple crypto mining firms and a prominent crypto exchange, Coinbase, are already listed on stock exchanges. Consequently, this establishes a precedent demonstrating that crypto firms can transition to becoming publicly traded companies in the country. Favorable Crypto Policies Under Trump Furthermore, Ark Invest…

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Filed under: News - @ November 13, 2024 6:16 am