Share this article
Bitcoin Group Makes Third Attempt to IPO in Australia
Bitcoin Group is to make its third attempt to IPO this November, following two stop orders from the Australian Securities and Investments Commission.
By Grace Caffyn
Updated Sep 11, 2021, 11:51 a.m. Published Sep 8, 2015, 1:09 p.m.
Bitcoin Group is to make its third attempt to IPO this November, following two stop orders from the Australian Securities and Investments Commission (ASIC).
The Melbourne firm first announced it would pursue an initial public offering (IPO) on the Australian Securities Exchange (ASX) last October, however it has faced delays following a reprimand by the regulator in February and two stop orders on its investor prospectus in July.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to the Sydney Morning Herald, the firm lodged an updated prospectus last Friday after ASIC lifted its second stop order. Its listing date is now set for 11th November.
Bitcoin Group CEO Sam Lee told the publication that as its IPO was precedent-setting, the revisions were required so that investors could be "fully informed", adding:
"ASIC's role to protect Australian investors means they need to understand our unique business model. We appreciate the patience ASIC have taken to understand what we do, and thank their co-operation in helping ensure our prospectus accurately reflects the current and future opportunity of Bitcoin Group."
Though other bitcoin firms, including digitalBTC and Bitcoin Shop have publicly-traded shares, Bitcoin Group maintains it is the first digital currency company to IPO as it has avoided going through so-called 'backdoor listings'.
Based in Melbourne, Bitcoin Group currently offers cryptocurrency arbitrage, but told CoinDesk it would switch to mining the currency if its IPO is a success. It plans to issue 100 million new shares at 20¢ each. Some 90% of the company's funds will go towards buying CPU power.
Markets image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
