PANews reported on September 23 that according to DL News, Kraken co-CEO Arjun Sethi said that although competitors Bullish and Gemini were listed on the New York Stock Exchange and Nasdaq respectively this summer, Kraken will not follow suit for the time being, emphasizing that "it will not act hastily due to FOMO emotions." This statement responded to previous speculation that it was planning an IPO as early as the first quarter of 2026.

As part of the industry's M&A boom, Kraken is busy acquiring smaller companies. Sethi confirmed that Kraken is still looking for acquisitions, but will not blindly pursue "wide-ranging" deals. He cited previous acquisitions of Breakout and NinjaTrade as strong alignments with their development path. In addition to acquisitions, Kraken is also busy launching a series of new services, expanding into custody and prime brokerage services. The company aims to have institutional investors contribute one-third of its revenue, with retail and mid-market traders contributing the remaining two-thirds, though he did not disclose how far along they are. Sethi insisted that Kraken is a separate entity and has no intention of becoming a bank or broker. He declined to disclose the company's current valuation, confirming that it was valued at $15 billion before the NinjaTrader acquisition in March. He also stated that the company is profitable and has positive EBITDA.