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Crypto Hardware Wallet Maker Ledger Targets 2026 IPO: FT

Ledger's prospective $4B crypto IPO is the latest in a wave of IPO activity for crypto companies.
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Jan 23, 2026 • 1 min read

According to the Financial Times, crypto hardware wallet manufacturer Ledger is plotting a $4B NYSE IPO, which could take place sometime in 2026.

What's the Scoop?

  • Prospective IPO: Per anonymous sources cited by FT, the crypto hardware wallet manufacture is considering selling ownership to the public through an initial public offering (IPO) that could value the company above $4B. Ledger has reportedly selected investment banks Goldman Sachs, Jefferies, and Barclays to underwrite the offering.
  • Riding the Trend: Stock markets were inundated with IPOs in 2025, with particularly strong activity emanating from the crypto sector. The number of public listings doubled in 2025 compared to two years prior, and momentum has carried into 2026, which has already seen 15 IPOs, including that of crypto firm BitGo.
  • Previous Raise: Ledger previously raised a $380M Series C funding round in 2021 that valued the company at $1.5B. It subsequently "added" $385M to the round in 2023 at similar terms.

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