Initial coin offeringe (1COs) have recently experienced an explosive expansion in entrepreneurial fnance. Thisnovel, crowd-based funding method has successfully attracted tremendous amounts of funds for both newventures and established businesses.A growing body of research ha explored the factors that shape ICO success,yet few studies have synthesized and integrated the findings of the fragmented literature. This paper incorporatessignaling theory and a phase-based view of the ICO process to systematically review 78 empirical studieg,published between January 2017 and January 2022,on the conceptualization, theories and determinants of Icosuccess. The review explores six main determinants of lCO success: the founder, ICO,venture, market, investors,and context. The founder initiates the 1CO procecs by deliberately selecting this method for funding their businessand choosing the type and quality of signals that both encourage investors and guide their decision to participatein and support the IC0 project in different contexts.Based on this review,we develop a model for ICO success,tracking success determinants in each phase of the ICO process,Finally, we highlight agendas for future studiesand implications for policy,theory, and practice development.