# Public Token Sales Raise $40 Million, Their Lowest Quarterly Total in Four Years

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/38267
Published: 2026-10-22T19:35:46.000Z
Updated: 2026-10-22T19:35:46.000Z
Section: Business

> Private crypto and blockchain companies drew $5.683 billion in venture investment across 384 deals in Q2 2026.

Public token offerings raised $40 million in the second quarter of 2026, their lowest quarterly total in four years. In a separate funding channel, private crypto and blockchain companies attracted $5.683 billion in venture investment across 384 deals.

The public-sale tally covered 47 offerings. Its proceeds were 95.3% below the cycle high of $849 million, while the number of sales was 90.5% below its peak of 496. Those figures compare Q2 with the respective historical highs for proceeds and sale count.

The public-sale category includes initial coin offerings, initial exchange offerings and initial DEX offerings. The $40 million total therefore covers those three types of offering, rather than ICOs alone.

A June 10 snapshot showed $58 million raised across 37 sales. The quarter-end tally, taken after Q2 closed June 30, counted 47 sales and $40 million. The two snapshots show a different amount raised and a different number of offerings at those points in the quarter.

Venture investment increased 31% from Q1, and the number of deals grew 10%. Later-stage companies received 78.3% of the quarter’s venture capital. Pre-seed and seed rounds accounted for 39.8% of completed deals, a share based on deal count rather than capital invested.

Companies headquartered in the United States represented 73.5% of venture capital and 39.1% of the 384 deals. These figures describe the venture-investment category; they do not change the scope of the separate public token-sale tally.

The $40 million in public offerings and $5.683 billion in venture investment track different funding channels. Their comparison shows separate activity in the same quarter and does not establish that funds moved from one channel to the other.