Bitpanda Plans $5B IPO in 2026, Targets Frankfurt for Listing

TLDR

• Bitpanda is planning an IPO in 2026 with a target valuation between €4 billion and €5 billion.
• The company has chosen to list its shares on Frankfurt’s stock exchange.
• Bitpanda has hired Goldman Sachs, Citigroup, and Deutsche Bank to assist with the IPO.
• The IPO could take place as early as the first quarter of 2026.
• Bitpanda currently has over seven million users and dominates Austria’s crypto market.

Bitpanda, one of Europe’s largest crypto exchanges, is reportedly planning an initial public offering (IPO) in 2026. The Vienna-based platform is said to be targeting a valuation between €4 billion ($4.7 billion) and €5 billion ($5.83 billion). The IPO could take place on Frankfurt’s stock exchange, with the first quarter of 2026 being the likely window.

Bitpanda Plans Frankfurt Listing for IPO

Bitpanda has become a major player in Europe’s crypto market since its founding in 2014. It claims to have over seven million users, positioning itself as one of the most popular retail crypto platforms in Europe. While the exchange has not disclosed specific trading volumes, consultancy firm EY estimates that Bitpanda accounts for nearly 60% of Austria’s domestic crypto trading market.

The company has reportedly enlisted major financial institutions, including Goldman Sachs, Citigroup, and Deutsche Bank, to assist with the IPO. The listing is expected to take place on Frankfurt’s stock exchange, following Bitpanda’s decision to forgo a potential London listing. In August 2025, CEO Eric Demuth stated that London offered less liquidity compared to other major markets, like New York and Frankfurt.

Crypto Exchanges Eye Public Markets in 2026

Bitpanda is not alone in its IPO plans, as several crypto exchanges and firms are preparing to go public. Crypto exchange Kraken filed confidentially for an IPO in November 2025, aiming for a $20 billion valuation. Other companies such as FalconX, Grayscale, and Blockchain.com have also discussed IPO plans, signaling increasing interest in the public markets among crypto firms.

In the U.S., major players like USDC issuer Circle and trading firm eToro made their market debuts in 2025. This uptick in crypto IPO activity has created a wave of excitement in the industry, with investors keeping a close eye on the performance of these listings. Bitpanda’s IPO could follow this trend, as the company aims to tap into a growing interest in the crypto sector’s public market presence.

Bitpanda faces growing competition from other exchanges, including Kraken and Binance, which have also expanded their services internationally. However, the company’s IPO plans reflect its ambitions to capitalize on the increasing demand for crypto trading and investment opportunities in Europe. By listing in Frankfurt, Bitpanda may also benefit from Germany’s strong financial reputation and market liquidity.

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