Europe-based crypto exchange Bitpanda has reportedly been looking into an initial public offering (IPO) in the first half of 2026.
Bitpanda could be eyeing a valuation of between EUR 4 billion and EUR 5 billion, as detailed by Bloomberg, and the offering is planned for Frankfurt’s stock exchange. The news comes on the heels of a flood of IPOs from crypto companies in 2025. Major firms providing such services, including Circle, Bullish, and eToro, all made stock market debuts last year.
Bitpanda’s IPO: timeline and further details
With its operations starting in 2014, Bitpanda now positions itself among Europe’s most popular retail crypto platforms, with its data suggesting that it has approximately seven million users. Even if the company does not disclose its trading volumes publicly, estimates from EY showcase that Bitpanda accounts for nearly 59.6% of Austria’s domestic crypto trading market.
The previously mentioned sources said that Bitpanda has tapped Goldman Sachs, Citigroup, and Deutsche Bank to support the IPO, which is projected to come as soon as the first quarter of 2026. However, at the time of writing, the crypto exchange has not yet confirmed the allegations.
Furthermore, listing on Frankfurt’s stock exchange follows the crypto exchange’s announcement from August 2025, when it excluded a London listing. Eric Demuth, the CEO of Bitpanda, said to the Financial Times that London provided lower liquidity compared to other markets such as New York and Frankfurt. Additionally, he mentioned that other European companies, including Wise, have also ruled out London for a listing.
2026: the year of IPOs in the crypto space?
In addition to Bitpanda, several of its competitors have also been eyeing an IPO in 2026. For example, Kraken confidentially filed for an IPO in November 2025 and is currently awaiting SEC approval and appropriate market conditions.
Moreover, FalconX, Grayscale, and Blockchain.com have been in discussions for potential IPOs in the near future. Just two weeks in 2026, and we have also witnessed a crypto industry IPO. BitGo, a crypto wallet and custody provider, filed for an IPO on the New York Stock Exchange (NYSE), which could bring its valuation to approximately EUR 2.3 billion.
