Anchorage Digital Plans to Raise Up to $400M Ahead of Potential IPO

American crypto bank Anchorage Digital, the first federally chartered institution for digital assets, plans to raise from $200M to $400M in fresh capital as part of preparations for a possible initial public offering in 2027. The company, which provides custody, trading, and staking services for banks, hedge funds, and venture firms, aims to strengthen its position in the stablecoin market following the passage of the GENIUS Act in July 2025.

According to Bloomberg reports, Anchorage Digital is in talks with investors about a new funding round that could serve as preparation for an IPO next year. The company last raised funds in December 2021, securing $350M in a Series D round at a valuation exceeding $3B. Investors included giants like KKR & Co, Goldman Sachs, GIC, and Apollo Credit Funds. This new initiative underscores the growing institutional interest in the crypto market, especially in the context of competitors like BitGo (which filed for listing on the New York Stock Exchange in September 2025) and Kraken (which plans a public listing in 2026).

Company Background and Strategic Moves

Anchorage Digital was founded in 2017 and became the first crypto banking institution in the US in 2021 through its affiliated company Anchorage Digital Bank National Association. The company focuses on institutional clients, offering secure digital asset custody, trading, and staking. In September 2025, Anchorage partnered with Tether to launch the USAT token in the US market, and in December acquired Securitize For Advisors to expand asset management services and integrated Hedgey for token lifecycle management.

CEO Nathan McCauley announced plans to double the stablecoin team in 2026 to become a leading stablecoin issuer. This aligns with broader trends in the crypto industry, where institutional adoption is accelerating: for example, spot Bitcoin ETFs attracted $1.42B in a week, and governments like Tennessee are considering creating strategic Bitcoin reserves.

Market Context

This move by Anchorage Digital comes amid a crypto IPO boom: companies like Anchorage are looking to capitalize on a favorable regulatory environment after the GENIUS Act, which eased stablecoin issuance.

Experts predict that a successful Anchorage IPO could spur further convergence of traditional finance and crypto, especially considering the Trump administration's plans to eliminate capital gains taxes for small Bitcoin payments. However, risks remain: escalation of EU tariffs to 10-25% and China's liquidity injection of $1.85T could impact market volatility.