Demuth told the Financial Times that while a stock market debut is on the table, London won’t be the venue. Instead, the Vienna-based firm is considering Frankfurt or New York, though no timeline has been set. “Liquidity-wise, the LSE is not doing too well,” he said, adding that he expects the exchange to struggle over the next few years.
The move reflects a broader trend of companies bypassing London in favor of other markets. British fintech Wise has already shifted its focus abroad, while others are actively weighing relocations to attract stronger investor interest.
The decision comes amid one of the UK’s worst IPO droughts in decades. Capital raised from London listings hit a 30-year low in the first half of the year, raising doubts about its ability to compete with global financial hubs. Critics also argue the UK has squandered its early edge in blockchain and digital assets, leaving crypto firms less inclined to see London as a viable listing destination.
In contrast, the U.S. remains the preferred launchpad for crypto companies. Gemini recently filed to list its stock on Nasdaq, while other players like Figure, BitGo, and Bullish have all lined up SEC filings or New York listings in recent weeks.
Bitpanda itself has been expanding in the UK, rolling out access to more than 600 digital assets and sealing a sponsorship deal with Arsenal Football Club. Yet when it comes to a public listing, London is no longer part of its plans.
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