According to The Block, Republic Europe has announced the launch of a Kraken-focused special purpose vehicle (SPV), marking the first time that European retail investors can gain indirect equity in the U.S. cryptocurrency exchange Kraken. Kraken is currently valued at approximately $20 billion and secretly filed for an IPO in November last year, preparing for a public listing. It has been reported that Kraken generated $1.6 billion in revenue in 2024, representing a 138% year-over-year increase, with EBITDA reaching $421 million.
Republic Europe Launches Kraken SPV to Offer European Retail Investors Indirect Exchange Equity
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Summary
Republic Europe has launched a Kraken-focused SPV, providing European retail investors with indirect exposure to the U.S. exchange. This development occurs amid ongoing news about exchange listings, as Kraken, valued at $20 billion, filed for a confidential IPO in November 2024. The exchange reported $1.6 billion in revenue for 2024, representing a 138% year-over-year increase, with EBITDA of $421 million. Although no exchange hack has been reported, the SPV broadens access to a major player ahead of a potential public listing.
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