Bitpanda Snubs London IPO Over Liquidity Concerns, Eyes US or Frankfurt Listing

Bitpanda, the Vienna-based cryptocurrency exchange backed by Peter Thiel and Alan Howard, has ruled out a London listing due to perceived liquidity shortcomings in the UK capital markets. The $4.1 billion-valued platform instead favors Frankfurt or New York for its eventual public debut, though no firm timeline exists.

"The LSE lacks sufficient trading activity to justify listing there," said co-founder Eric Demuth, citing London's dwindling IPO market - now at a 30-year low. The decision follows fintech firm Wise's relocation of its listing abroad for better investor access.

Despite bypassing London for its IPO, Bitpanda recently launched UK operations offering 600+ digital assets. The exchange reported €393 million revenue in 2024 and sealed a high-profile sponsorship with Arsenal FC.