Quick Breakdown
- Consensys has enlisted JPMorgan and Goldman Sachs to lead its IPO preparations.
- The Ethereum developer could go public by late 2025 or early 2026.
- MetaMask’s expansion and regulatory wins are boosting investor confidence.
Consensys prepares to go public
Consensys, the Ethereum software company behind MetaMask, is reportedly gearing up for an initial public offering (IPO) with support from two of Wall Street’s leading investment banks — JPMorgan and Goldman Sachs.
According to an October 29 Axios report, the move marks a major step for the Ethereum-focused developer as it joins a growing list of crypto firms entering the public markets under more favourable regulatory and market conditions.
Founded in 2014 by Ethereum co-founder Joseph Lubin, Consensys has been instrumental in building the tools and infrastructure that power much of the Ethereum ecosystem. Its flagship platforms include Infura, a service that supports developers running Ethereum nodes, and Linea, a layer-2 scaling network designed to process faster and cheaper blockchain transactions.
The firm has also backed SharpLink, a treasury management platform that has deployed over $200 million into on-chain yield strategies. Consensys last raised $450 million in a Series D round in 2022, which valued the company at $7 billion and attracted big-name investors such as SoftBank, BlackRock, JPMorgan, and Mastercard.
Goldman and JPMorgan to lead IPO
The planned IPO will be led by Goldman Sachs and JPMorgan, which will oversee underwriting, pricing, and investor engagement. While the company has not disclosed specific details on its valuation or listing date, sources suggest the debut could come as early as late 2025 or early 2026.
This development positions Consensys among the next wave of high-profile blockchain companies entering the public markets, following successful debuts by Circle and Bullish earlier in the year.
MetaMask growth strengthens public appeal
Consensys’ flagship product, MetaMask, continues to expand its reach and functionality — strengthening the company’s positioning ahead of the IPO. In September, Lubin confirmed that MetaMask would soon launch its own MASK token, adding to its growing ecosystem.
The wallet also introduced perpetual futures trading and a user rewards program, and revealed plans to integrate a prediction market with Polymarket.
These product expansions follow a significant legal victory in February 2025, when the U.S. Securities and Exchange Commission dropped its lawsuit against MetaMask’s staking services — clearing a major obstacle to going public.
With the Trump administration taking a more crypto-friendly stance, easing access for digital asset firms to traditional capital markets, Consensys’ IPO could arrive at a highly favourable time for the blockchain industry.
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