(Reuters) -Crypto exchange Kraken said on Tuesday it was valued at $20 billion in its latest fundraise, a 33% increase in under two months, as digital market firms continue to attract investor interest.

The $800 million dual-tranche funding round follows a crypto-friendly regulatory tone under U.S. President Trump, encouraging digital asset firms to expand in the U.S. with promises of clearer rules.

Peers such as Gemini and Coinbase, as well as crypto firm Ripple, have benefited from eased oversight under Trump, who, along with family, has been an active player in the still nascent slice of finance.

Kraken's primary tranche of the funding round was led by institutional investors such as Jane Street, HSG, Oppenheimer Alternative Investment Management and Tribe Capital, co-founded by Kraken's co-CEO Arjun Sethi.

Citadel Securities contributed $200 million in a strategic investment as the second tranche.

The financing values Kraken well above recently listed public peers Bullish and Gemini, both of which have faltered since their stellar day-one showings on U.S. bourses, reflecting persistent challenges faced by crypto firms under public market scrutiny as the sector seeks mainstream acceptance.

The announcement also coincides with a wobble in crypto prices after a long rally, led by bitcoin, amid doubts about future U.S. interest rate cuts and a risk-averse market mood.

Kraken has been actively investing capital to expand into various asset classes and grow its user base. Last month, it said it had bought futures exchange Small Exchange from IG Group for $100 million, paving the way to launch a fully U.S.-based derivatives suite.

The funding round follows a September fundraise at a $15 billion valuation.