- Bitpanda will not pursue a London IPO due to weak liquidity on the LSE.
- London’s IPO market has fallen to its lowest point in 30 years.
- Crypto firms increasingly prefer US markets like Nasdaq and NYSE for listings.
Vienna-based crypto exchange Bitpanda has ruled out London as a venue for a potential initial public offering (IPO), highlighting concerns over dwindling liquidity on the London Stock Exchange (LSE). Instead, the firm is considering Frankfurt or New York, though no listing timeline has been confirmed.
Bitpanda Turns Away from London
Eric Demuth, co-founder of Bitpanda, told the Financial Times that the UK’s markets are currently struggling to attract strong investor interest. “Liquidity-wise, the LSE is not doing too well. I hope it gets better, but over the next few years, I think the LSE is struggling a bit,” Demuth noted.
The move echoes a broader trend of fintech and digital asset companies avoiding London. British fintech Wise, among others, has already shifted or weighed listings overseas in search of deeper capital pools.
UK IPO Market Hits 30-Year Low
London is facing one of its worst IPO droughts in decades, with funds raised in the first half of the year at a 30-year low. Analysts warn that the city is losing ground to rival financial hubs such as New York, where more crypto-friendly policies and stronger investor appetite have boosted capital market activity.
The UK has also come under fire for its crypto stance. A June report from the Official Monetary and Financial Institutions Forum (OMFIF) argued that Britain squandered its early lead in distributed ledger finance. Adding to the criticism, Coinbase recently released a satirical video ridiculing the state of the UK economy.
Crypto Firms Look to US Listings
Bitpanda’s decision comes as a wave of crypto firms prepare for US listings. Gemini, founded by the Winklevoss twins, filed this month for a Nasdaq listing under the ticker GEMI. Blockchain lender Figure, custody provider BitGo, and Thiel-backed Bullish have also chosen US markets.
Despite ruling out London, Bitpanda continues to expand in the UK. The exchange recently launched trading access to more than 600 digital assets and secured a sponsorship deal with Arsenal Football Club.
Also Read: Bitpanda Takes Partnership With Paris Saint-Germain Into Web3, Ahead Of Vision (VSN) Launch
Bitpanda’s rejection of London underscores the mounting challenges facing the LSE as global financial hubs compete for listings. With crypto firms increasingly choosing the US, London risks falling further behind unless liquidity and investor confidence rebound.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
