Bitpanda targets IPO in the first half of 2026; Frankfurt listing seen as likely

European crypto brokerage Bitpanda has begun preparations for a public listing, aiming for an initial public offering (IPO) in the first half of 2026.

According to a report by Cryptopolitan on the 13th (local time), Bitpanda is preparing the IPO with a Frankfurt stock market listing in mind. Sources cited by Bloomberg said the listing is likely to be completed within the first half of 2026, with some seeing a first-quarter debut as possible. Bitpanda had previously considered a London listing but later withdrew.

The market estimates Bitpanda’s valuation at about $4.7 billion. Goldman Sachs, Citigroup and Deutsche Bank are said to be participating as IPO underwriters. Bitpanda has been discussing New York versus Frankfurt listings since the second half of 2025, and is interpreted to have opted for a European listing in view of the euro-zone IPO market recovery.

Bitpanda maintains an overwhelming share of Austria’s crypto-asset market. According to a local digital-asset usage report, 59.6% of Austrian crypto-asset users use Bitpanda, while Binance stood at 21% and Kraken at 11%. Its competitiveness is attributed to a one-stop investment service that includes stocks and precious metals, as well as an automated tax withholding feature.

The platform, built on a regulation-friendly structure, also offers derivatives trading and leverage of up to 10x. However, the number of assets supported is relatively limited, and a Solana-based stablecoin has not yet been introduced. Even so, it has posted a high user-retention rate and has established itself as a leading local crypto brokerage platform.

Ahead of 2026, Bitpanda also overhauled its board. Co-founder Eric Demuth moved to serve as chairman of the board of the Swiss holding company, while Lukas Enzersdorfer-Konrad serves as chief executive officer (CEO). As global crypto firms push IPOs—such as Kraken pursuing a Nasdaq listing—attention is on whether Bitpanda will emerge as a leading player in the European market.