Bitpanda’s London Exit: A Tale of Lost Liquidity and Big Ambitions! 🚀

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Bitpanda, that paragon of Austrian crypto brokering, has decided to put its London IPO on hold, much to the relief of the stock market, which was probably wondering if it had accidentally swallowed a particularly enthusiastic squirrel. 🐿️

Summary

  • Bitpanda has canceled its planned IPO on the London Stock Exchange due to low liquidity and market conditions. Or, as the LSE might say, “We’re not ready for your crypto, mate.” 🐇
  • The Austrian crypto exchange is now considering Frankfurt or New York for a future public listing. Because nothing says “we’re serious” like choosing between two cities that are basically the same place but with different accents. 🇩🇪🇺🇸
  • Co-founder Eric Demuth emphasized that the choice of venue must match the scale of Bitpanda’s ambitions. Demuth, ever the visionary, said the venue must match Bitpanda’s ambitions, which are as vast as a Hungarian steppes and as deep as a well in a desert. 🌍

Bitpanda, the crypto giant that’s bigger than a breadbasket and more reliable than a British weather forecast, has abandoned its plans for an initial public offering on the London Stock Exchange. According to an Aug. 26 Financial Times report, the exchange cited weak liquidity on the LSE as driving its decision, now considering other options. Or, as a certain squirrel might mutter, “Not today, thank you.” 🐿️

The Vienna-based exchange had been weighing an initial public listing since October 2024, when reports first surfaced that it was considering a potential public listing. Because nothing says “we’re excited” like waiting over a year to decide where to go public. ⏳

Co-founder and CEO Eric Demuth said the London Stock exchange no longer provides the liquidity Bitpanda needs, adding that the firm is instead exploring listings in Frankfurt or New York, where capital pools are deeper and trading demand is higher. Or, as a German banker might say, “We’ve got the cash, and we’re not afraid to spend it.” 💰

Demuth described going public as part of Bitpanda’s long-term roadmap, but stressed that the choice of venue must match the scale of its ambitions. The IPO focus comes as Bitpanda continues to steadily expand its services and offerings. The exchange recently secured MiCA approval to operate as a crypto custodian in the EU, rolling out new services in Germany, France, and Spain, because nothing says “we’re serious” like expanding into three countries that are basically the same place but with different accents. 🇩🇪🇫🇷🇪🇸

As crypto.news previously reported, Bitpanda has also recorded its most successful year since launch, reporting $426 million in operating revenue for 2024. That’s enough to buy a small island, a few yachts, and a very fancy toaster. 🍞

The milestone in profitability and scalability is prompting the exchange to consider larger listing venues, which could put it in line with larger peers like Coinbase, which listed on Nasdaq in 2021. Because nothing says “we’re big” like following in the footsteps of a company that’s already made its fortune. 🚀

Regulatory concerns are likely another factor behind Bitpanda’s decision to move away from London. The U.S. is signaling a more welcoming stance toward the crypto industry, while regulations in the U.K. remain unclear, with the region often criticized for its strict approach to digital assets. Or, as a British regulator might say, “We’re not against crypto, we’re just very, very cautious.” ☁️

Meanwhile, Bitpanda’s bid also comes as IPOs gain traction among crypto firms. Because nothing says “we’re trendy” like jumping on the same bandwagon as everyone else. 🎢

Bitpanda joins crypto IPO trend 🚀

Throughout this year, crypto companies have been dominating the public listing landscape. Stablecoin issuer Circle set the trend in June with a $1.2 billion offering on the New York Stock Exchange. The launch was widely successful and prompted a wave of firms to follow suit. Or, as a Wall Street analyst might say, “That’s how you make money, folks.” 💸

Earlier this month, the Peter Thiel-backed exchange Bullish debuted on the New York Stock Exchange, raising $1.1 billion. Shares priced at $37, above the $32-$33 range, giving the platform a $5.4 billion valuation. Institutional investors, including BlackRock and Ark Investment Management, anchored demand, buying up to $200 million in shares. Because nothing says “we’re serious” like having a hedge fund buy your stock. 🏦

Meanwhile, crypto exchange Gemini is also preparing its own U.S. listing on Nasdaq under the ticker “GEMI.” Despite recording losses up to $282.5 million in revenue in the first half of 2025, the Winklevoss-backed exchange is betting on public markets to fund operations and expand its stablecoin business. Because nothing says “we’re stable” like losing money and still trying to go public. 📉

Bitpanda says it remains committed to a future listing. With the London Stock Exchange now ruled out, it remains to be seen where the exchange will ultimately go public. Or, as a certain squirrel might mutter, “We’ll find a place where the nuts are plentiful and the taxes are low.” 🐿️

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2025-08-26 17:49