Bitpanda rules out U.K. for public listing; Considers New York, Frankfurt

Austrian crypto exchange Bitpanda is considering to go public, however, it has ruled out the possibility of that happening via the London Stock Exchange (LSE). The decision has reportedly been influenced by a weak liquidity situation on the LSE.

Eric Demuth, the co-founder of Bitpanda confirmed the decision to Financial Times on Tuesday, August 26. As per the report, the capital raised through IPOs in the U.K. hit a 30-year-low in the first half of this year.

“Liquidity-wise, the LSE is not doing too well. Currently, everybody’s moving away from the [London Stock Exchange]. I hope that it gets better but over the next few years,” Demuth was quoted as commenting on the situation.

According to EY, the LSE saw nine new listings in the first half of 2025 amid heightened geopolitical turbulence keeping the market activity dampened. The listings raised GBP 182.8 million — clocking a 64 percent year-on-year fall in deal value from the GBP 513.8 million that were raised in first half of 2024.

The exchange recently announced its entry into the U.K. market — aiming to make the country one of its top three markets within the next two years. Bitpanda also announced a multi-year partnership with the Arsenal Football Club.

Despite its ambitious plans with its U.K. expansion, the exchange is eyeing New York or Frankfurt for its IPO plans.

The market is much more friendly right now, so we’re currently looking much closer into [listing] than we did before,” Demuth reportedly added.

Under President Donald Trump’s administration, the U.S. has emerged as a friendly location for the expansion of crypto businesses. Amid the ongoing pro-crypto regulatory overhaul in the U.S., a number of crypto firms have gone public via the New York Stock Exchange.

These include Figma, Gemini, and Bullish among others.

Bitpanda has not yet shared details on the timeline by when its IPO plans could gain more clarity.