Bitpanda has decided against a listing on the London Stock Exchange due to liquidity concerns. The company is now exploring public market entry in New York or Frankfurt, confirmed by CEO Eric Demuth.
Dismissal of IPO in London
Bitpanda will not pursue an IPO on the London Stock Exchange, citing low liquidity as a concern. Instead, the company is looking toward more promising options in New York and Frankfurt.
Liquidity Issues on LSE
Eric Demuth, co-founder and CEO of Bitpanda, stated, 'Liquidity-wise, the LSE is not doing too well.' This indicates the need for deeper markets for public offerings.
Market Impact
Bitpanda's decision has drawn attention from investors monitoring broader trends in the cryptocurrency market. Transitioning to more liquid venues may represent a strategic move for digital firms seeking better financial conditions.
Bitpanda's rejection of the IPO in London and the shift towards other markets underline the growing pressures on traditional exchanges and the need to adapt to changing global market conditions.
