Major U.S. cryptocurrency exchange Kraken has announced its support for a new special purpose acquisition company (SPAC) seeking to raise $250 million through an initial public offering (IPO). This SPAC, known as KrakAcquisition, is designed to target firms that provide infrastructure and services for the digital asset ecosystem.
Incorporated in July 2025 in the Cayman Islands, KrakAcquisition intends to issue 25 million units priced at $10 each, and plans to apply for listing on the Nasdaq Global Market under the ticker symbol “KRAQU”. According to its filing with the Securities and Exchange Commission (SEC), this initiative reflects a broader strategy aimed at investment opportunities within the cryptocurrency infrastructure sector.
The SPAC identifies Kraken’s involvement as beneficial, citing advantages like operational expertise and access to the digital asset ecosystem, although it clarified that Kraken is not contractually obligated to facilitate any future business combinations.
KrakAcquisition has a management team that includes notable personnel from Kraken; specifically, CFO Sahil Gupta, who has also spearheaded Kraken’s strategic initiatives. Robert Moore, Kraken’s VP of Strategy and Corporate Development, is set to serve as a director for KrakAcquisition post-IPO.
The SEC filing emphasizes that while future business combinations may occur across various sectors, the primary focus will be on companies operating within the digital asset landscape.
