Bitpanda Ditches London IPO Over Thin Liquidity - Sets Sights on US and Frankfurt Markets

London's loss becomes Frankfurt and New York's gain as crypto exchange Bitpanda bypasses the UK's struggling public markets.

Liquidity Drought Forces Strategic Pivot

Faced with London's anaemic trading volumes, the Vienna-based platform cuts ties with the LSE—opting for jurisdictions where digital assets meet deeper capital pools and regulatory clarity.

Transatlantic Ambitions

Bitpanda eyes US listings alongside Frankfurt's Deutsche Börse, betting that Continental Europe's financial hubs offer stronger footing for crypto-native IPOs. Because nothing says 'stable investment' like chasing volatility across multiple regulatory regimes.

Market Reality Check

The move underscores a harsh truth: traditional financial centres must adapt or watch innovation migrate to greener pastures—and better liquidity.

London’s IPO Struggles

London’s IPO scene is on life support. The UK’s IPO market is at a 30-year low, with very little capital raised from new listings this year. This has raised concerns about London’s ability to compete with other global financial hubs.

Critics say crypto policy hasn’t helped either. In June, analysts at the think tank OMFIF said the country missed its early advantage in blockchain and distributed ledger finance. Last month, Coinbase released a satirical video highlighting problems in the UK economy, showing issues like poverty, inflation, debt, and crumbling infrastructure.

Many crypto firms are also looking to the U.S. now for public listings. Recently, companies like Gemini, Figure, BitGo, and Bullish have filed for U.S. stock market listings.