Republic Europe Launches SPV for Kraken’s Upcoming IPO

Republic Europe launched a Special Purpose Vehicle on January 26, 2026, allowing European retail investors to indirectly invest in Kraken before its anticipated U.S. IPO.

This initiative marks a shift towards democratizing investment opportunities, potentially increasing retail investor interest and participation in high-growth pre-IPO markets.

Republic Europe has launched an SPV on January 26, aimed at European retail investors, enabling indirect equity exposure to Kraken ahead of its U.S. IPO.

The initiative offers a unique opportunity for indirect investment in Kraken, potentially influencing future public market investment structures.

Republic Europe Offers Early Access to Kraken’s Equity

The launch of a Special Purpose Vehicle (SPV) by Republic Europe grants European retail investors access to Kraken’s equity before its official IPO. This initiative emerged on January 26, 2026.

Republic Europe described the SPV as a “first-of-its-kind.” It marks a shift towards democratizing access to private investment opportunities previously limited to institutions.

Kraken’s $20 Billion Valuation Attracts Market Interest

The development is expected to reshape how retail investors participate in major IPOs. Kraken being valued at about $20 billion, the access granted by the SPV may attract widespread interest.

The move reflects broader market trends where private companies remain private longer. It suggests a new model for retail investor participation in high-growth companies before they go public.

SPV Launch Marks Shift in Pre-IPO Investments

Traditionally, pre-IPO equity access was limited to institutional players. The launch of the SPV by Republic Europe represents a departure from these norms within Europe’s investment landscape.

If successful, this model could set a precedent for future retail investment mechanisms. Historically, similar access has enhanced engagement and democratized opportunities in public markets. As Theodora Bishop, Senior Investment Manager at Republic Europe, commented: