Institutional crypto platform Anchorage Digital is looking to raise hundreds of millions of dollars of fresh capital as it eyes a potential Initial Public Offering.
The raise would be in the $200 million to $400 million range, while a possible IPO is slated for sometime next year, according to a Bloomberg report on Friday, citing people familiar with the matter who asked to remain anonymous.
Anchorage’s affiliate, Anchorage Digital Bank National Association, became the first federally chartered crypto bank in 2021 and is now well-positioned to lead stablecoin issuance and related services following the passage of the GENIUS Act in July.
Anchorage CEO Nathan McCauley said in September that he planned to double the company’s stablecoin team over the next year to accommodate the expected boom in digital dollars.
“2025 was our year of scale. We made a series of acquisitions, inked major partnerships, and launched new business lines like stablecoin issuance to solidify our lead in institutional crypto,” an Anchorage spokesperson told Bloomberg.
One of those partnerships included Tether, the issuer behind the largest stablecoin, USDT, with the two companies announcing plans in September to launch a USAT token in the US.
Anchorage is expanding its crypto offerings
Anchorage also provides custody, trading, and staking services for banks, hedge funds, and venture capital firms, acting as a regulated bridge for TradFi players to access crypto.
In December, Anchorage also expanded its wealth management arm through the acquisition of Securitize For Advisors and token lifecycle management by integrating Hedgey.
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Anchorage secured $350 million in funding late 2021, led by KKR & Co, with participation from Goldman Sachs, GIC, and Apollo credit funds.
Anchorage’s valuation was marked at over $3 billion at the time.
Other crypto leaders are looking at IPOs in 2026
Meanwhile, one of Anchorage’s crypto custody competitors, BitGo, filed S‑1 IPO paperwork to list on the New York Stock Exchange in September, while crypto trading platform Kraken filed an S-1 in November and is eyeing a public listing in early 2026.
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