MetaMask Maker Consensys Plans IPO Amid Crypto Market Boom

ETH Developer Prepares for Public Market Debut

Consensys, the ETH software company behind the MetaMask wallet, has hired JPMorgan and Goldman Sachs to advise on its initial public offering, Axios reported Wednesday. The move places the firm among a growing group of crypto companies preparing listings amid stronger market sentiment and renewed investor interest in digital assets.

The report said Consensys intends to follow peers such as Circle and Bullish, which went public earlier this year, taking advantage of favorable market conditions and a more receptive regulatory climate. Circle’s debut — one of the sector’s largest this year — drew strong institutional demand, buoyed by optimism around the U.S. administration’s crypto-friendly stance.

MetaMask and Product Expansion

MetaMask, Consensys’s flagship product, is among the most widely used crypto wallets globally, serving as a gateway to trading on ETH. In recent months, the company has rolled out a series of new features and hinted at further expansion tied to its upcoming token launch.

Last month, Joseph Lubin, Consensys founder and ETH co-creator, said MetaMask would soon release its long-anticipated MASK token. The announcement came alongside plans for a new rewards system and . Earlier this month, MetaMask confirmed it would integrate prediction markets through Polymarket, further broadening its reach beyond simple wallet functionality.

“These launches follow MetaMask’s recent confirmation that it will launch a token, long anticipated by the community and now officially in motion, as part of its broader strategy to open new ways for users to engage,” the company said at the time.

Investor Takeaway

Consensys’s Broader Footprint

Founded in 2014 by Lubin, Consensys builds infrastructure and applications that support the ETH network. Beyond MetaMask, it operates Infura, a key node infrastructure service used by developers, and Linea, an ETH Layer 2 network designed to improve scalability and transaction costs. The company also backs the ETH treasury platform SharpLink.

Consensys’s expansion reflects a broader push to deepen institutional ties while retaining its roots in ETH’s open-source development community. The firm has been one of the largest private players in the space, with investors watching closely for details of its valuation and listing venue once formal filings are made.

Crypto Firms Head Back to the Market

Consensys’s decision follows a string of successful listings by major crypto firms, including Circle and Bullish. Circle’s offering, which brought its USDC stablecoin business to the public markets, and Bullish’s $1.1 billion IPO on the New York Stock platform, have both drawn heavy institutional participation. The renewed momentum comes as digital assets recover from their 2022 downturn and as the U.S. policy environment has turned more permissive toward the industry.

President administration has adopted a market-friendly posture on digital assets, assisting to revive capital markets activity for blockchain firms. Bankers and investors now view crypto infrastructure companies — rather than token issuers — as stronger IPO candidates due to their cash flows and institutional partnerships.

Investor Takeaway