Cryptocurrency exchange Bitpanda has abandoned its IPO in London, citing weak liquidity on the London Stock Exchange as a key factor in his decision.
Bitpanda is still planning a public offering, but “it won’t happen in London,” according to co-founder Eric Demuth. Instead, the company is considering listing in Frankfurt or New York, though when that will happen is unknown.
«The situation on the London Stock Exchange is not great at the moment in terms of liquidity. I hope it will improve, but I think the London Stock Exchange will have some difficulties in the next few years,» Demuth told the Financial Times.
He noted that several other major firms, including British fintech company Wise, have already moved their listings from London to other countries or are planning to do so in the near future.
The UK is currently in the midst of one of its longest periods without an IPO in decades. The amount raised by London listings in the first half of 2025 has fallen to a 30-year low, according to market data cited by the Financial Times. That has raised concerns about the country’s ability to compete with other global financial centres.