Crypto News
JPMorgan and Goldman Sachs have been tapped to advise on a potential initial public offering for Consensys, the Ethereum infrastructure company behind the MetaMask wallet. Axios reported Wednesday that the listing could occur as soon as 2026, citing unnamed sources, though specific valuation and size details remain undisclosed.
Founded by Ethereum co-founder Joseph Lubin in 2014, Consensys develops tools, infrastructure, and applications for the Ethereum network. The company raised $450 million in 2022 at a $7 billion valuation, establishing it as one of the most valuable private firms in the digital asset space.
A Consensys spokesperson told media outlets the company "constantly explores opportunities to expand its impact," but has nothing to announce currently. The planned listing follows successful crypto company debuts including Circle's June IPO at a roughly $6.9 billion valuation and Bullish's August listing on the New York Stock Exchange.
February brought a significant regulatory development when the Securities and Exchange Commission informed Consensys it would dismiss its lawsuit over MetaMask's staking features. The case had alleged the firm operated as an unregistered broker, creating uncertainty around any potential public offering.
The agency's reversal cleared a major hurdle and underscored broader softening in U.S. crypto enforcement under the Trump administration. President Trump's pro-crypto stance has made investors more receptive to digital asset firms pursuing public listings.
MetaMask ranks among the world's most popular crypto wallets and has expanded its offerings recently. Lubin announced last month that the long-anticipated MASK native token would launch in the near future, fulfilling community expectations built over the years.
The wallet provider introduced perpetual futures trading and a new rewards system this month. MetaMask also teased an upcoming Polymarket integration for prediction markets, part of its broader strategy to create additional user engagement pathways beyond basic wallet functionality.
Consensys's portfolio extends beyond MetaMask to include Infura node infrastructure service and Linea layer-2 network. The company backs SharpLink, an Ethereum treasury firm, demonstrating diversified involvement across the Ethereum ecosystem.
The IPO market for crypto companies has gained momentum as favorable regulatory conditions emerge. Consensys's public offering would provide traditional investors with equity-based exposure to Ethereum infrastructure rather than requiring direct token holdings.
Beyond MetaMask's consumer wallet business, Consensys has positioned itself as critical infrastructure for Ethereum's development. The potential listing represents a significant test of public market appetite for companies building foundational blockchain infrastructure rather than consumer-facing applications alone.
