Key highlights:
- Bitpanda rules out London listing—cites poor liquidity on LSE
- Co-founder Demuth: “It will not be in London.”
- New IPO focus: Frankfurt or New York amid global listing shift
Austrian crypto exchange Bitpanda has categorically abandoned plans to list on the London Stock Exchange, calling it too illiquid to attract serious investment. Instead, the company is eyeing Frankfurt or New York – a clear signal that the British financial hub is losing its appeal.
Eric Demuth, co-founder of Bitpanda, told the Financial Times directly: “It certainly won’t be in London.” He said the London Stock Exchange is going through tough times in terms of liquidity, and the situation is unlikely to improve in the coming years.
London is losing its appeal, U.S. gaining traction for crypto firms
Demuth is not alone in thinking so. British fintech Wise and others have already begun moving their major listings overseas to attract more investors. London, it seems, is turning from a magnet for capital into a city to flee.
The numbers speak for themselves: the amount of money raised through London listings in the first half of the year fell to a 30-year low. This is not just a temporary setback – it is a systemic crisis that calls into question the UK’s ability to compete with other global financial centres.
The country’s crypto policy also leaves much to be desired. In June, analysts from the independent institute OMFIF stated that the UK has squandered its first-mover advantage in distributed finance.
And last month, Coinbase released a sarcastic video poking fun at the state of the British economy, featuring happy songs about how “everything is fine” against images of poverty and crumbling infrastructure.
If everything is fine, then don’t change anything at all.
But when the financial system isn’t working for so many people in the UK, it needs to be updated. pic.twitter.com/rL1EaKu12V
— Coinbase 🛡️ (@coinbase) July 31, 2025
Bitpanda’s shift reflects a broader trend in the crypto industry
While London suffers, crypto companies are actively filing for listing in the US. This month, the Winklevoss brothers’ Gemini Space Station (Cameron and Tyler Winklevoss) submitted an application to list on Nasdaq under the ticker GEMI. They were joined by blockchain lender Figure, BitGo, and Bullish, another Peter Thiel-backed exchange that has already listed on the NYSE.
Interestingly, Bitpanda itself recently started in the UK, offering users the ability to trade over 600 digital assets, and even signed a sponsorship deal with Arsenal Football Club. Apparently, trading in the country is one thing, but raising capital there is quite another.
Bitpanda’s decision reflects a broader trend: the crypto industry is voting with its dollars for jurisdictions with clearer regulations and deeper capital markets. London is currently losing the race.
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Source:: Bitpanda Rules Out London Listing, Eyes Frankfurt or New York Instead