Austria-based Crypto trading platform Bitpanda is moving forward with plans for a public listing in Frankfurt, targeting a debut in the first half of 2026 with a valuation of 4 billion euros ($4.7 billion) to 5 billion euros.
The IPO could take place as early as the first quarter, with the company working alongside Citigroup, Goldman Sachs and Deutsche Bank, Bloomberg reported on Wednesday, citing people familiar with the offering. No final decisions have been made and the listing timeline may change.
Founded in 2014, Bitpanda is a European fintech and crypto trading platform offering digital-asset services and investment products to more than 7 million users in the region, according to the company.
In 2021, it raised $263 million in a funding round that valued the platform at $4.1 billion, making it of Austria’s first unicorn startups.
Bitpanda expanded its footprint in Europe over the past year. In January, it secured a MiCA license from Germany’s Federal Financial Supervisory Authority, and in February it gained approval from the Financial Conduct Authority to offer more than 500 crypto assets in the United Kingdom.
Eric Demuth, Bitpanda's co-founder, said in an August interview with the Financial Times that the company was exploring a public listing but had ruled out London over liquidity concerns, instead weighing Frankfurt or New York as potential venues.
Potential crypto IPOs 2026
Several digital asset companies have recently taken formal steps toward launching US IPOs in 2026.
In October, tZERO said it is targeting a US IPO for 2026 as it expands its blockchain-based infrastructure for tokenized securities. A few weeks later, digital asset manager Grayscale Investments filed a registration statement with the US Securities and Exchange Commission (SEC) as part of plans to go public, proposing to list its Class A common stock on the New York Stock Exchange.
Crypto exchange Kraken disclosed in November that it filed a draft registration statement for a proposed IPO with the SEC. The filing followed an $800 million fundraise that valued the exchange at $20 billion.
Public crypto listings in 2025 delivered mixed results. While some debuts saw sharp early gains, shares of companies such as Circle, Gemini and Bullish later retraced from post-IPO highs, with performance diverging across issuers.
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