- Clear Street plans to go public, sources tell the Financial Times.
- It would join the likes of Kraken who also plan to go public.
- The firm has advised several digital treasury deals.
Clear Street plans to go public as early as January, according to sources speaking with the Financial Times.
The New York Broker and financial services group has established itself as a prominent underwriter of crypto-related stock offerings and has advised several digital asset treasury firms, companies that have bet their future on the idea that crypto prices will continue to soar.
Clear Street has also acted as an underwriter for Trump Media & Technology Group, US President Donald Trump’s family’s media company, the Financial Times reported.
Clear Street didn’t immediately return a request for comment.
Under strain
The news comes as the digital asset treasury fad has come under strain in recent months as crypto prices have crashed.
The business model was pioneered by Michael Saylor’s Strategy — which Clear Street has served as an underwriter for — in 2020 when the software company pivoted to essentially become a Bitcoin proxy by buying the digital asset.
By July this year, the gamble had driven Strategy’s share price to surge some 3,500%, incentivising other firms to plough their capital into digital assets.
The problem? Crypto prices have crashed in recent months. Bitcoin, for instance, is down just under 30% from its $126,000 October high.
Digital asset treasuries’ stocks have fallen in tandem with the price. Strategy is down some 60% since its July high. Nakamoto, another crypto treasury firm, has seen its share price fall some 95%.
Metaplanet, the hotel operator turned Bitcoin treasury, has an average cost that sits at around $108,000 per Bitcoin. With Bitcoin at $89,000, the company is underwater by nearly $17,000 per coin across its 30,823 Bitcoin balance sheet.
Kraken IPO
Clear Street is not the only crypto-linked company that’s potentially going public in 2026.
Kraken, one of the world’s biggest crypto exchanges, has confidentially filed with the US Securities and Exchange Commission for an initial public offering of its common stock, the company said in November
Kraken didn’t set a time for when the IPO will happen, but only said it expected it “to occur after the SEC completes its review process, subject to market and other conditions.”
Previous reports have predicted that Kraken would go public in the first quarter of 2026.
Eric Johansson is DL News’ managing editor. Got a tip? Email at eric@dlnews.com.
