Bitpanda, the Vienna-born crypto change backed by investor Peter Thiel, has instructed markets it won’t search a list in London because it plans its path to the general public markets.
Bitpanda And London’s Adrift IPO Market
Experiences have disclosed that the UK’s IPO market has slid to its weakest stage in three a long time. Within the first half of 2025, roughly $215 million to just about $248 million was raised, in contrast with a 2021 peak of $11.88 billion.
Even when secondary points are counted, the totals stay the bottom in a long time. Traders and bankers level to skinny buying and selling and low liquidity as core causes.
In accordance with the Monetary Occasions, CEO Eric Demuth mentioned the corporate is weighing Frankfurt or New York as a substitute and that London is “not on the desk.” No agency timetable was given.
Peter Thiel-backed crypto change Bitpanda guidelines out UK itemizing https://t.co/qgJa9s9G7N
— Monetary Occasions (@FT) August 26, 2025
Demuth has been blunt about liquidity. He instructed reporters that many corporations are shifting away from the London Inventory Alternate looking for deeper swimming pools of patrons.
Clever not too long ago moved its main itemizing to New York after a shareholder vote. Bitpanda solely launched within the UK not too long ago and, based mostly on reviews, nonetheless earns most of its income from continental Europe. The transfer away from London, the CEO prompt, displays the place capital might be discovered.
BTCUSD buying and selling at $110,080 on the 24-hour chart: TradingView
Markets With Deeper Swimming pools
Firms in crypto and fintech are more and more taking a look at US and continental European markets. The New York Inventory Alternate and Nasdaq are grabbing consideration.
Experiences say friendlier insurance policies beneath US President Donald Trump and a move of institutional capital have helped. Circle, the issuer of the USD Coin stablecoin, raised $1.05 billion on the NYSE at a valuation of roughly $8 billion.
One other Thiel-backed agency, Bullish, floated on the NYSE this month. The Winklevoss twins’ Gemini change and crypto custodian BitGo have filed to record within the US.
Setting It Straight
The sensible result’s easy. The place there may be extra liquidity, corporations discover it simpler to draw large buyers and set costs that replicate development hopes. That issues for exchanges. Bitpanda desires depth. It desires visibility. Itemizing venue influences each.
Demuth’s feedback recommend the choice is pushed by the place investor demand sits in the present day, not by a rejection of the UK market on precept.
Featured picture from Fintech Information Switzerland, chart from TradingView
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