Even with the past year’s crop of cryptocurrency IPOs having suffered massive losses amid bitcoin’s plunge and talk of a “crypto winter,” a new batch of digital asset companies are expected to go public in 2026.

Potential IPO contenders are already lining up. Kraken, a crypto exchange, filed confidentially for an IPO in the fourth quarter. Consenys, parent company of the popular wallet MetaMask, and Ledger, a hardware wallet manufacturer, are reportedly beginning to prep listings.

Many current investors in these still-private companies took their stakes when the firms were nascent upstarts and had much lower valuations. They’ve been waiting a long time to cash out—in some cases, over a decade. With the Trump administration’s…