In an article for CoinDesk, White & Case partner Laura Katherine Mann discusses 2025's rise in crypto IPOs and her predictions for 2026.
The article explores whether crypto IPOs will shift from a short-term trend into a durable asset class. Laura Katherine acknowledges the momentum in the crypto market, but warns that volatility will weigh heavily on equity investors who are "accepting risk but being more discriminating about the risk that they accept."
Laura Katherine predicts 2026 listings to fall into three buckets: regulated exchanges and brokerages, infrastructure and custody plays, and stablecoin payments and treasury-style platforms. This signals a shift from 2025's DAT listings toward IPO candidates that resemble financial infrastructure.
Read the full article here.
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