Kraken's SPAC has filed for a Nasdaq listing, aiming to raise $250 million.

US cryptocurrency exchange Kraken is backing a newly formed special purpose acquisition company (SPAC) that plans to go public through a Kraken-affiliated sponsor. KrakAcquisition, a blank-check company jointly backed by Kraken, Tribe Capital, and Natural Capital, filed documents with the US Securities and Exchange Commission (SEC) on Monday (January 13) to raise up to $250 million through an initial public offering (IPO). According to the SEC filing, the exempted company, registered in the Cayman Islands in July 2025, plans to issue 25 million shares ($10 each) and apply for listing on the Nasdaq Global Market under the ticker symbol “KRAQU.” While the SPAC primarily targets companies in the cryptocurrency infrastructure sector, Kraken reportedly filed a separate confidential S-1 form last November seeking potential IPO opportunities for its common stock. (Cointelegraph)