Peter Thiel-Backed Bitpanda Opts Against UK IPO, Eyes Frankfurt or New York Listing

Bitpanda, the cryptocurrency exchange backed by billionaire Peter Thiel, has abandoned plans for a UK initial public offering, citing insufficient liquidity on the London Stock Exchange. CEO Eric Demuth confirmed the firm is now evaluating Frankfurt or New York as alternative listing venues.

The decision reflects broader challenges in the UK IPO market, which has slumped to a 30-year low with just £160m-£182.8m raised in H1 2025. Continental Europe generates most of Bitpanda's revenue, further diminishing London's appeal as a financial hub for crypto firms.

Demuth's remarks underscore a growing trend of digital asset companies favoring US or European markets, where deeper liquidity pools and clearer regulatory frameworks offer more favorable conditions for public listings. The MOVE signals continued erosion of London's position in global capital markets.