Kraken is considering doing another funding round as it potentially eyes an initial public offering, Bloomberg reported Thursday, citing people familiar with the matter.

The crypto exchange could raise north of $100 million in a pre-IPO round, as investors turn toward the crypto market amid a rally in token prices, sources told Bloomberg. If Kraken chooses to raise more funds, the round could be completed by the end of the year, according to one source who spoke with the publication.

“We are always exploring strategic paths toward Kraken’s Mission: accelerating the global adoption of crypto,” Kraken said Thursday in a statement. “We remain fully focused on investing in this goal.”

Kraken plans to launch an IPO as soon as next year, sources told Bloomberg. To realize those plans, the …