Ethereum News Today: ConsenSys' IPO Signals Mainstream Inflection as Crypto Meets Wall Street

ConsenSys, the Ethereum-focused infrastructure firm behind the popular MetaMask wallet, is reportedly preparing for an initial public offering (IPO), according to multiple reports: a Markets analysis, a Ventureburn report, and Yahoo Finance. The company has enlisted JPMorgan Chase and Goldman Sachs as lead underwriters, signaling a pivotal moment for the crypto industry as traditional finance and blockchain technology converge, Ventureburn reported. While no official timeline has been disclosed, sources suggest the IPO could materialize as early as late 2025 or 2026.

The potential listing follows a regulatory breakthrough earlier this year, when the U.S. Securities and Exchange Commission (SEC) dismissed its lawsuit against Consensys over MetaMask's staking services. The case had alleged the firm operated as an unregistered broker, but its resolution removed a major hurdle for the IPO, according to Yahoo Finance. This development aligns with broader shifts in U.S. crypto policy, including the Trump administration's pro-crypto stance, which has encouraged institutional adoption and regulatory clarity, as noted by Ventureburn.

Consensys, founded in 2014 by Ethereum co-founder Joseph Lubin, has grown into a cornerstone of the Ethereum ecosystem. Its flagship product, MetaMask, serves as a gateway for millions of users to interact with decentralized applications (dApps), manage tokens, and participate in DeFi. The company also operates Infura, a critical infrastructure service for Ethereum developers, and Linea, a Layer-2 scaling solution designed to reduce transaction costs, according to a Bitget report. Recent innovations include MetaMask's native stablecoin, mUSD, and plans for a perpetual futures trading platform, as reported by Markets.

The IPO would position Consensys as one of the first major blockchain infrastructure firms to enter public markets. Its valuation has surged since 2022, when it raised $450 million at a $7 billion valuation. Secondary market estimates now place its value between $10–$10.5 billion, reflecting renewed investor confidence in the crypto sector, according to Crypto IPO Watch. This trajectory mirrors the success of Circle, which listed on the NYSE in June 2025 at a $6.9 billion valuation, and Bullish, which debuted in August, according to Yahoo Finance.

The move also underscores a growing trend of crypto-native firms seeking public market access. Companies like Gemini, OKX, and TRON are exploring similar paths, while others, such as Ripple and Tether, remain cautious. Analysts view Consensys' IPO as a potential bellwether for the industry, given its foundational role in Ethereum's infrastructure and its partnerships with traditional financial giants like JPMorgan and Goldman Sachs, Ventureburn and Bitget note.