Bitpanda GmbH is preparing to go public on the Frankfurt stock market as early as the first half of 2026, Bloomberg reported Tuesday, citing sources familiar with the matter.
The Peter Thiel-backed crypto exchange is targeting a valuation between €4 billion to €5 billion ($4.66 billion to $5.82 billion) for the offering, the report said. Bitpanda has hired Goldman Sachs, Citigroup, and Deutsche Bank to arrange the offering. Specific terms, including the final valuation and timeline, remain subject to change.
Bitpanda had previously explored a UK listing but reportedly ruled it out, citing weak liquidity on the London Stock Exchange. Co-founder Eric Demuth said at the time that the IPO would take place either in New York or Frankfurt.
Founded in 2014, the Vienna-based company has built a strong presence across Europe, including Austria, Germany, Switzerland, Italy, and France, and has recently expanded into the UK. Its Berlin hub serves a significant share of Bitpanda’s reported 30 million customers.
The planned Frankfurt IPO may coincide with its collaboration with German banking giant Deutsche Bank. In July, the two firms announced plans to launch a crypto custody service in 2026, supported by Deutsche Bank-backed digital asset infrastructure provider Taurus, according to a Bloomberg report at the time.
Bitpanda’s planned IPO comes at a time of greater regulatory clarity for global cryptocurrency companies, driven by clearer EU rules under MiCA and a more favorable policy tone in the U.S. under President Donald Trump.
Following a wave of listings in 2025 — including Circle, Bullish, and Gemini — several prominent firms such as Kraken, BitGo, and Consensys are reportedly preparing to go public this year.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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