Quick overview

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Consensys, the Ethereum (ETH) development company that created the MetaMask wallet, has postponed its intended US public offering until at least fall 2026.

The postponement comes after a protracted decline in the cryptocurrency market rendered a short-term listing unfeasible. According to a third person familiar with the plans, the company, led by co-founder Joe Lubin, had been aiming for a confidential S-1 registration statement filing with the Securities and Exchange Commission (SEC) around the end of February 2026.

The first official step in the IPO process is usually a confidential S-1. JPMorgan and Goldman Sachs were hired to spearhead the offering. “We don’t comment on market speculation as a matter of policy,” a company representative stated. “Cryptocurrency markets saw a steep decline as investors withdrew from riskier assets in February 2026.

Macroeconomic uncertainty, fresh tariff worries, and lower interest rate expectations were all contributing factors.

Investors withdrew from riskier assets since the first quarter, causing a sharp decline in cryptocurrency markets. Macroeconomic uncertainty, fresh tariff worries, lower expectations for interest rate reductions, and large withdrawals from Bitcoin (BTC) exchange-traded funds (ETFs) were all contributing factors.

The IPO plans of hardware wallet manufacturer Ledger and exchange behemoth Kraken have also been put on hold. Several companies had previously announced plans to go public due to improved regulatory clarity in the US, but the downturn slowed that momentum.