Bitpanda Shifts Potential Listing from London amid Liquidity Concerns
Bitpanda, backed by Peter Thiel, looks to Frankfurt or New York for IPO, avoiding London due to market liquidity issues.
- Bitpanda rejects London’s stock listing citing low market liquidity.
- Peter Thiel-backed crypto firm eyes Frankfurt, New York instead.
- Shift aligns with broader trends away from London listings.
Bitpanda, backed by Peter Thiel, has decided against listing on the London Stock Exchange due to concerns over liquidity, planning to explore options in Frankfurt or New York instead.
The decision indicates a shift away from London’s IPOs, reflecting broader challenges in the UK market and potentially impacting European fintech investment strategies.
Bitpanda’s Strategic Move
Bitpanda, a cryptocurrency exchange backed by venture capitalist Peter Thiel, has decided against listing on the London Stock Exchange. The primary reason cited is the weak liquidity and poor trading volumes observed on the LSE.
CEO Eric Demuth highlighted the struggle of the LSE in terms of liquidity, stating there’s a broad movement away from London. Bitpanda is now considering Frankfurt or New York for a potential public offering.
Market Context and Trends
The decision represents a continuing trend where companies are opting for alternatives to London’s listing market, which suffers from diminished IPO activities. London raised only ~$215M to ~$248M in H1 2025, reflecting a historical low.
Such shifts are impacting perceptions of the UK capital market’s attractiveness, especially in fintech and crypto sectors. Strategic decisions like Wise moving its primary listing to New York echo this sentiment.
Future Prospects and Strategic Directions
Stakeholder confidence in more liquid and capital-abundant markets, like New York, is increasing. No immediate impact on cryptocurrencies like BTC or ETH is observed, with Bitpanda’s UK operations continuing unaffected.
Eric Demuth, CEO & Co-Founder, Bitpanda, said, “Currently, liquidity-wise, the LSE is not doing too well … I hope that it gets better, but over the next few years, I think the LSE is struggling a bit.” Industry precedent from firms like Bullish and Circle indicates this strategic direction could be a sustainable trend. The US offers deeper investor pools and clearer regulatory environments, making it an attractive option for companies like Bitpanda.
