Vienna's Bitpanda, a prominent crypto platform, is contemplating an initial public offering (IPO) in Frankfurt, aiming for a launch in the first half of 2026. The company is targeting a valuation between 4 billion euros ($4.7 billion) and 5 billion euros. According to Bloomberg, which cited sources familiar with the matter, the IPO might occur as soon as the first quarter of that year, with Citigroup, Goldman Sachs, and Deutsche Bank involved in the process. However, the plans are still tentative, and timelines may shift.
Established in 2014, Bitpanda has grown into a significant player in the European fintech and crypto markets, serving over 7 million users with a variety of digital-asset services and investment opportunities. In 2021, Bitpanda raised $263 million, pushing its valuation to $4.1 billion, marking it as one of Austria's pioneering unicorn startups.
Over the past year, Bitpanda has expanded its presence across Europe. In January, it received a MiCA license from Germany's BaFin, and by February, it was approved by the UK's Financial Conduct Authority to offer over 500 crypto assets. Co-founder Eric Demuth mentioned in an interview with the Financial Times that while a public listing is considered, London was ruled out due to concerns over market liquidity, with Frankfurt and New York being more favorable options.
In recent developments, several digital asset companies are also gearing up for public offerings in 2026. tZERO has announced plans for a US IPO as it enhances its blockchain infrastructure for tokenized securities. Similarly, Grayscale Investments has filed with the US SEC, aiming to list on the New York Stock Exchange. Meanwhile, crypto exchange Kraken has submitted a draft registration with the SEC, following an $800 million funding round that valued it at $20 billion.
Public crypto listings in 2025 showed varied outcomes, with some companies experiencing initial success, while others like Circle, Gemini, and Bullish saw their stock prices retreat after initial surges.
As the digital asset market continues to evolve, companies like Bitpanda are strategically planning their entry into public markets, reflecting broader trends in the sector.