Financial and Business News

Bitpanda Sheds Crypto-Only Label With $5 Billion Frankfurt IPO Push

Thursday, 15/01/2026 | 09:35 GMT by Damian Chmiel
  • Vienna-based broker positions itself as multi-asset platform ahead of expected first-half 2026 debut.
  • Peter Thiel-backed firm taps Goldman Sachs, Citigroup and Deutsche Bank for offering as crypto IPO pipeline builds.
Bitpanda

Bitpanda is preparing for a stock market listing in Frankfurt during the first half of 2026, targeting a valuation between 4 billion and 5 billion euros, according to Bloomberg report. A first-quarter debut remains possible, though no final decisions have been made and timing could shift.

Bitpanda Eyes Frankfurt IPO at Up to $5.2 Billion Valuation

The Austrian firm has hired Goldman Sachs, Citigroup and Deutsche Bank to arrange the offering, said the people, who asked not to be identified discussing private plans. Bitpanda declined to comment beyond confirming an IPO remains one option under consideration.

Founded in 2014, Bitpanda currently serves more than 7 million users. The company no longer wants to be associated solely or exclusively with cryptocurrencies, instead positioning itself around a broad range of asset classes.

It presents itself as Europe’s leading broker offering access to stocks, cryptocurrencies , indices, ETFs, and precious metals. Trading is available 24/7, with minimum investment amounts starting from one euro.

CFDs Underpin Multi-Asset Offering

While Bitpanda markets itself as a comprehensive multi-asset platform, the firm offers derivatives contracts rather than direct ownership of stocks and ETFs. The structure mirrors competitors in the European retail trading space that rely on contracts for difference (CFDs) across most instrument classes.

Co-founder Eric Demuth previously told the Financial Times the company had considered New York alongside Frankfurt, after ruling out London over concerns about market liquidity. The firm raised $263 million in August 2021 at a $4.1 billion valuation from investors including Peter Thiel's Valar Ventures.

Regulatory Push Supports Expansion

Bitpanda has secured multiple regulatory approvals over the past year that position it for broader European and Middle Eastern growth. The platform obtained a MiCAR license from Germany's BaFin in January 2025, enabling operations across all 27 EU member states under the bloc's new crypto framework.

In February, Bitpanda gained UK Financial Conduct Authority approval to offer more than 500 crypto assets to British investors, and later secured a full operating license in Dubai, marking its first major regulatory win outside Europe.

Fintech IPO Pipeline Builds Momentum

A successful Bitpanda listing would add to a growing roster of publicly traded retail brokers in Europe. Poland's XTB has traded on the Warsaw Stock Exchange since 2016, while the Frankfurt- based NAGA Group was formally listed on the German Stock Exchange in 2017.

The Israeli-founded eToro completed a $620 million Nasdaq IPO in May 2025 at a $4.3 billion valuation.

Several other digital asset firms have filed for U.S. listings this cycle. Kraken submitted confidential IPO paperwork with the Securities and Exchange Commission in November following an $800 million fundraise that valued the exchange at $20 billion. Asset manager Grayscale Investments also filed a registration statement for a proposed New York Stock Exchange listing.

Early 2025 crypto IPOs delivered mixed results after initial debuts. Circle, Gemini and Bullish all saw shares retreat from post-listing highs, though performance varied across individual issuers.

Bitpanda is preparing for a stock market listing in Frankfurt during the first half of 2026, targeting a valuation between 4 billion and 5 billion euros, according to Bloomberg report. A first-quarter debut remains possible, though no final decisions have been made and timing could shift.

Bitpanda Eyes Frankfurt IPO at Up to $5.2 Billion Valuation

The Austrian firm has hired Goldman Sachs, Citigroup and Deutsche Bank to arrange the offering, said the people, who asked not to be identified discussing private plans. Bitpanda declined to comment beyond confirming an IPO remains one option under consideration.

Founded in 2014, Bitpanda currently serves more than 7 million users. The company no longer wants to be associated solely or exclusively with cryptocurrencies, instead positioning itself around a broad range of asset classes.

It presents itself as Europe’s leading broker offering access to stocks, cryptocurrencies , indices, ETFs, and precious metals. Trading is available 24/7, with minimum investment amounts starting from one euro.

CFDs Underpin Multi-Asset Offering

While Bitpanda markets itself as a comprehensive multi-asset platform, the firm offers derivatives contracts rather than direct ownership of stocks and ETFs. The structure mirrors competitors in the European retail trading space that rely on contracts for difference (CFDs) across most instrument classes.

Co-founder Eric Demuth previously told the Financial Times the company had considered New York alongside Frankfurt, after ruling out London over concerns about market liquidity. The firm raised $263 million in August 2021 at a $4.1 billion valuation from investors including Peter Thiel's Valar Ventures.

Regulatory Push Supports Expansion

Bitpanda has secured multiple regulatory approvals over the past year that position it for broader European and Middle Eastern growth. The platform obtained a MiCAR license from Germany's BaFin in January 2025, enabling operations across all 27 EU member states under the bloc's new crypto framework.

In February, Bitpanda gained UK Financial Conduct Authority approval to offer more than 500 crypto assets to British investors, and later secured a full operating license in Dubai, marking its first major regulatory win outside Europe.

Fintech IPO Pipeline Builds Momentum

A successful Bitpanda listing would add to a growing roster of publicly traded retail brokers in Europe. Poland's XTB has traded on the Warsaw Stock Exchange since 2016, while the Frankfurt- based NAGA Group was formally listed on the German Stock Exchange in 2017.

The Israeli-founded eToro completed a $620 million Nasdaq IPO in May 2025 at a $4.3 billion valuation.

Several other digital asset firms have filed for U.S. listings this cycle. Kraken submitted confidential IPO paperwork with the Securities and Exchange Commission in November following an $800 million fundraise that valued the exchange at $20 billion. Asset manager Grayscale Investments also filed a registration statement for a proposed New York Stock Exchange listing.

Early 2025 crypto IPOs delivered mixed results after initial debuts. Circle, Gemini and Bullish all saw shares retreat from post-listing highs, though performance varied across individual issuers.

Topics
bitpanda
About the Author: Damian Chmiel
Damian Chmiel
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Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.

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