Swan Bitcoin, a Calabasas-based bitcoin financial services company, is on track for an initial public offering.

Cory Klippsten, Swan’s founder and chief executive, announced the some of the proceeds from a recently closed series C round of funding will be used to pay for legal, financial, and marketing services required to develop an IPO. Klippsten said the money was raised from its roster of existing investment funds and individuals who have provided capital for the company in the past.

The amount raised in the funding round was undisclosed.

While the company has yet to officially register with the U.S. Securities and Exchange Commission, Klippsten speculated his company’s stock launch would take place on the Nasdaq in early 2026. He declined to predict how much the IPO would raise.

Swan said he is shouldering the expenses associated with IPOs for the sake of branding, as much as raising money.

“Bitcoin is still so close to the world of crypto and the unfortunate scams and collapses in that side of the industry,” Klippsten said. “Swan being regulated, audited and traded on the Nasdaq will serve as signs of trust. It is something we believe is a very important brand promise.”

He believed his company would be the first bitcoin fintech company to launch an IPO.

This venture marks Swan’s most recent attempt to go public. Last year, it abandoned plans to take the company public, attributing it to a loss of revenue from its shuttered managed mining unit.

Swan had real potential. But they lost the plot long the way. ( You can say the same with Fold as well). I don’t use Swan as much as I used to but they had it all set up for them but just grew way to fast and Cory made decisions that were not the best in hindsight (going into mining). It will be interesting to dive into their prospectus to see if they are a profitable company.