Vienna-based cryptocurrency exchange Bitpanda is intensifying its exploration of a public listing, with co-founder Eric Demuth hinting at New York as a more favorable destination compared to London. Despite recent U.K. expansions, Demuth told the Financial Times that the lack of liquidity on the London Stock Exchange (LSE) makes it an unappealing choice. “Currently, everybody’s moving away from the LSE,” he remarked, noting the exchange’s struggles in attracting sufficient trading activity.
The Allure of New York
The landscape in New York appears more inviting for Bitpanda. The U.S. government’s supportive stance on digital assets is a significant draw, and recent successful debuts in the U.S. markets underscore this appeal. This August alone, Bullish (BLSH) made its entrance on the New York Stock Exchange, joining the ranks of Circle Internet (CRCL) and eToro (ETOR) as crypto firms embracing American public markets. “The market is much more friendly right now,” Demuth observed, reflecting a renewed openness to listing possibilities. This trend aligns with broader market movements, as detailed in our recent coverage of crypto IPO chatter and Bitcoin ETFs.
For Bitpanda, a New York listing isn’t just about liquidity; it’s about being part of a burgeoning ecosystem that has seen significant growth and acceptance. As the global center for financial activity, New York offers unparalleled access to investors and a regulatory environment increasingly open to crypto innovations.
Europe’s Financial Hubs in the Running
While New York holds considerable allure, Bitpanda hasn’t completely ruled out Europe. Frankfurt emerges as a possible candidate, particularly given Bitpanda’s strong revenue ties to mainland Europe. The German financial hub could offer a balance of regulatory stability and market access that aligns with Bitpanda’s European roots. However, Demuth’s remarks indicate a cautious approach, weighing each option’s benefits against potential pitfalls.
The broader context of Bitpanda’s decision-making process is shaped by an evolving crypto landscape. As digital asset markets mature, exchanges like Bitpanda find themselves at a crossroads—needing to choose listing venues that not only promise liquidity but also align with their strategic goals.
Market Movements and Strategic Decisions
Bitpanda’s consideration of a public listing comes at a time when the crypto market is experiencing renewed volatility, with Bitcoin and Ethereum prices fluctuating amid regulatory developments and technological advancements. The exchange’s decision could signal broader trends in how crypto firms approach public financing, potentially influencing other companies considering similar moves. This is echoed by recent market rebounds, as highlighted in our analysis of crypto stocks’ resurgence.
But here’s the catch: while a public listing offers opportunities for growth and visibility, it also brings challenges—particularly in navigating regulatory landscapes that can change rapidly. Bitpanda’s decision, therefore, isn’t just about choosing a location; it’s about aligning with a market environment that supports its long-term vision.
As the crypto world watches Bitpanda’s next move, questions abound. Will the exchange opt for the vibrancy of New York, or will it anchor itself in the familiar European markets? And what does this decision mean for the future of crypto exchanges eyeing public markets? The answers may unfold in the coming months, but one thing is clear—Bitpanda’s journey towards a public listing is as much about opportunity as it is about navigating a complex, ever-shifting landscape.
Source
This article is based on: Bitpanda Considers Public Listing, Rules Out London as Destination: FT
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
