Austria-based crypto trading platform Bitpanda is progressing with its plans for a public listing in Frankfurt. The company is targeting a debut in the first half of 2026, with an anticipated valuation ranging from 4 billion euros ($4.7 billion) to 5 billion euros.
The Initial Public Offering (IPO) could potentially occur as early as the first quarter of 2026. Bitpanda is reportedly working with financial institutions including Citigroup, Goldman Sachs, and Deutsche Bank on this endeavor. However, it is important to note that no definitive decisions have been finalized, and the listing timeline remains subject to change.
Company Overview and Growth
Founded in 2014, Bitpanda has established itself as a prominent European fintech and crypto trading platform. It provides a range of digital asset services and investment products to a user base exceeding 7 million individuals across the region.
In 2021, Bitpanda successfully raised $263 million in a funding round. This significant investment valued the platform at $4.1 billion, marking it as one of Austria's pioneering unicorn startups.
Over the past year, Bitpanda has been actively expanding its presence throughout Europe. In January, the company obtained a MiCA license from Germany's Federal Financial Supervisory Authority. Subsequently, in February, it received approval from the Financial Conduct Authority to offer more than 500 crypto assets within the United Kingdom.
Eric Demuth, a co-founder of Bitpanda, indicated in an August interview with the Financial Times that the company was exploring the possibility of a public listing. At that time, he mentioned that London had been ruled out due to liquidity concerns, with Frankfurt and New York being considered as potential venues for the IPO.
Potential Crypto IPOs in 2026
The landscape for 2026 appears poised for several significant moves by digital asset companies aiming for public listings in the United States.
In October, tZERO announced its intention to pursue a US IPO in 2026, coinciding with its expansion of blockchain-based infrastructure for tokenized securities. A few weeks later, digital asset manager Grayscale Investments submitted a registration statement to the US Securities and Exchange Commission (SEC) as part of its public listing plans. Grayscale proposes to list its Class A common stock on the New York Stock Exchange.
Crypto exchange Kraken disclosed in November that it had filed a draft registration statement for a proposed IPO with the SEC. This filing followed a substantial $800 million fundraising round that valued the exchange at $20 billion.
The performance of public crypto listings in 2025 presented a mixed picture. While some initial public offerings experienced sharp early gains, shares of companies such as Circle, Gemini, and Bullish later saw declines from their post-IPO highs, indicating a divergence in performance across different issuers.