Consensys, the Ethereum software company behind the widely used MetaMask wallet, has hired JPMorgan and Goldman Sachs to advise on its initial public offering, as reported in October 2025. This move places the firm among a growing cohort of crypto companies, including Circle and Bullish, that have gone public amid stronger market sentiment and renewed investor interest in digital assets.
Founded in 2014 by Joseph Lubin, an Ethereum co-creator, Consensys builds critical infrastructure for the Ethereum ecosystem, such as MetaMask, Infura (a node service), and Linea (an Ethereum Layer 2 network). The company's flagship product, MetaMask, is a gateway to decentralized finance and token trading, and it recently announced plans to launch its long-anticipated MASK token, along with a rewards system and perpetual futures trading. Additionally, MetaMask will integrate prediction markets via Polymarket, expanding its functionality beyond basic wallet services.
The IPO preparation comes as the crypto market recovers from its 2022 downturn, buoyed by a more permissive U.S. regulatory climate under the Trump administration. Earlier listings, like Circle's USDC stablecoin business and Bullish's $1.1 billion IPO, have drawn heavy institutional participation, highlighting Wall Street's growing focus on blockchain infrastructure firms with stable cash flows and partnerships.
If market conditions hold, Consensys could join publicly traded crypto firms such as Coinbase in 2025, potentially boosting Ethereum's institutional credibility and driving further innovation in the ecosystem.
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