UK Listing? Not For Bitpanda—Liquidity Concerns Derail Plans

Bitpanda, the Vienna-born crypto exchange backed by investor Peter Thiel, has told markets it will not seek a listing in London as it plans its path to the public ￰1￱ And London’s Adrift IPO Market Reports have disclosed that the UK’s IPO market has slid to its weakest level in three ￰2￱ the first half of 2025, roughly $215 million to nearly $248 million was raised, compared with a 2021 peak of $11.88 ￰3￱ when secondary issues are counted, the totals remain the lowest in ￰4￱ and bankers point to thin trading and low liquidity as core ￰5￱ to the Financial Times , CEO Eric Demuth said the company is weighing Frankfurt or New York instead and that London is “not on the table.” No firm timetable was ￰6￱ Thiel-backed crypto exchange Bitpanda rules out UK listing ￰0￱ — Financial Times (@FT) August 26, 2025 Demuth has been blunt about ￰7￱ told reporters that many companies are shifting away from the London Stock Exchange in search of deeper pools of ￰8￱ recently moved its primary listing to New York after a shareholder ￰9￱ only launched in the UK recently and, based on reports, still earns most of its revenue from continental ￰10￱ move away from London, the CEO suggested, reflects where capital can be ￰11￱ With Deeper Pools Companies in crypto and fintech are increasingly looking at US and continental European ￰12￱ New York Stock Exchange and Nasdaq are grabbing ￰13￱ say friendlier policies under US President Donald Trump and a flow 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 ￰14￱ Thiel-backed firm, Bullish, floated on the NYSE this ￰15￱ Winklevoss twins’ Gemini exchange and crypto custodian BitGo have filed to list in the ￰16￱ It Straight The practical result is ￰17￱ there is more liquidity, companies find it easier to attract big investors and set prices that reflect growth ￰18￱ matters for ￰19￱ wants ￰20￱ wants ￰21￱ venue influences both. Demuth’s comments suggest the decision is driven by where investor demand sits today, not by a rejection of the UK market on ￰22￱ image from Fintech News Switzerland, chart from TradingView