Crypto industry has 'wind in its sails', 8 companies eye public offerings

Bitcoin has come off its highs after it crossed $40,000 this month, but is still up about 16% this year.

The IPO fever whipping up animal spirits in the stock market has spilled over into the crypto-sphere.

After watching investors pour millions into blank-check companies and seeing the likes of JFrog and Snowflake surge on market debuts, at least eight crypto firms are eyeing initial public offerings. Coinbase has filed. Other exchanges are laying out plans or looking to be acquired through special-acquisition vehicles. And two Bitcoin mining equipment firms in China are on IPO watch lists, according to Renaissance Capital.

While it’s somewhat surprising that an industry that prides itself on being an outsider to financial-market infrastructure has eyes