
The offer is aimed at European investors who have previously had little access to pre-IPO equity in the crypto sector – an area traditionally reserved for institutional investors.
„Republic Europe“structures the product as a regulated investment instrument that acquires shares from Kraken shareholders and passes them on in a bundle to retail investors. This creates an indirect exposure path that is legally clearly separated from a direct investment.
For investors, this means: You are not investing in Kraken itself, but in an instrument that is economically linked to the performance of the share.
The move comes at a time when European investors are increasingly looking for regulated crypto infrastructure companies. The MiCAR provides the clear regulatory framework that structures both exchanges and investment products. “Republic Europe” is positioning itself as a bridge between the traditional capital market and the growing crypto economy.

Kraken is one of the oldest and most stable exchanges in the industry. The company has weathered the turbulence of the past few years – including the FTX collapse and the years-long regulatory dispute in the USA – comparatively well. The IPO would put Kraken in the same league as Coinbase, which has been listed on Nasdaq since 2021 and is therefore considered a benchmark for listed crypto infrastructure.
For retail investors, the new product offers rare access to a potential pre-IPO winner. At the same time, the risk remains high: the timing of a Kraken IPO is unclear, the valuation in the private market is volatile, and regulatory developments can change the perspective at any time.
Nevertheless, the offer shows how much the European market for crypto equity is maturing. “Republic Europe” is sending the signal that retail investors should participate more in the industry’s value creation in the future – not only through tokens, but also through investments in the companies behind them.
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