Bitpanda Eyes Frankfurt for Landmark IPO, Targeting Up to €5 Billion Valuation

European cryptocurrency powerhouse Bitpanda, a firm notably backed by legendary Silicon Valley venture capitalist Peter Thiel, is reportedly accelerating its plans for an Initial Public Offering (IPO). Sources familiar with the matter, as reported by Bloomberg on Tuesday, indicate the company aims to debut on the prestigious Frankfurt Stock Exchange as early as the first half of 2026. This move signals a significant milestone for the digital asset sector in Europe, positioning Bitpanda at the forefront of the continent’s burgeoning crypto economy.

Ambitious Valuation and Top-Tier Underwriters

The Vienna-headquartered exchange is setting an ambitious target, seeking a valuation ranging from €4 billion to €5 billion (approximately $4.66 billion to $5.82 billion) for its public offering. To navigate the complexities of a major listing, Bitpanda has enlisted a formidable syndicate of global financial institutions: Goldman Sachs, Citigroup, and Deutsche Bank will serve as lead underwriters. While these plans are well underway, the final valuation and specific IPO timeline remain subject to market conditions and regulatory approvals.

Strategic Choice: Frankfurt Over London

The decision to list in Frankfurt comes after careful consideration. Bitpanda had initially explored a listing on the London Stock Exchange (LSE) but ultimately pivoted, citing concerns over the LSE’s liquidity. Bitpanda co-founder Eric Demuth had previously hinted at this strategic choice, stating that the company’s preferred listing venue would be narrowed down to either New York or Frankfurt. The selection of Frankfurt underscores a strategic alignment with the European market and its evolving regulatory framework, offering a robust platform for future growth.

Deepening Ties with Deutsche Bank for Custody Services

A crucial factor underpinning Bitpanda’s choice of Frankfurt is its robust partnership with Deutsche Bank. The two entities previously announced a collaborative venture to launch a comprehensive cryptocurrency custody service in 2026. This initiative is set to leverage Deutsche Bank’s supported digital asset infrastructure provider, Taurus, to deliver compliant and secure cryptocurrency storage solutions for both institutional and retail clients. This synergy highlights Bitpanda’s commitment to regulated, enterprise-grade crypto services, further solidifying its market position.

A Flourishing Market Amidst Regulatory Clarity

Bitpanda’s impending IPO arrives at a dynamic period for the cryptocurrency market. The industry is experiencing a surge in institutional interest, bolstered by clear regulatory guidance from the European Union’s Markets in Crypto-Assets (MiCA) regulation and a perceived crypto-friendly policy stance from the potential US Trump administration. The year 2025 has already witnessed several high-profile public listings, including stablecoin issuer Circle and prominent crypto exchanges like Bullish and Gemini. Furthermore, major players such as Kraken, BitGo, and Consensys are reportedly preparing for their own listings this year, signaling a maturing and increasingly mainstream digital asset landscape that Bitpanda is poised to capitalize on.