B HODL, a new British company dedicated exclusively to Bitcoin accumulation and revenue generation, plans to list on the Access segment of the Aquis Growth Market in September, positioning itself as the UK’s first publicly traded vehicle with a pure Bitcoin mandate.
The London-based company has conditionally raised £13.3m through a subscription of 95.3m new shares priced at 14p, and intends to offer a further £500,000 to retail investors via the Winterflood Retail Access Platform. Admission is expected on 22 September, with trading under the ticker BHODL.
The fundraising will support B HODL’s strategy of acquiring Bitcoin directly and generating revenues from related activities, chiefly through its Lightning Network operations. The group already runs a five-year-old Lightning node ranked among the top 100 globally by capacity, which earns fees for routing transactions. Management said additional nodes would be deployed in the short term.
Direct exposure to cryptocurrency
Chief executive Freddie New, co-founder of advocacy group Bitcoin Policy UK, said the listing was designed to give investors direct exposure to the cryptocurrency’s potential while also supporting the development of its payment infrastructure.
“Bitcoin’s market capitalisation now sits at around $2 trillion, but we believe that this represents just a small fraction of its potential value in the foreseeable future,” he said. “Through B HODL, investors can gain exposure both to Bitcoin as an asset and to the growing payment revolution that it represents.”
The company said its model is designed to keep overheads low, with around 90 per cent of equity funding channelled into Bitcoin accumulation. Revenues are expected to come from Lightning routing fees and related Bitcoin-native activities, with the aim of generating “long-term asymmetric returns”.
Industry endorsements have lent credibility to the offering. Influential backers include Adam Back, chief executive and co-founder of blockchain company Blockstream, and Joe Nakamoto, a prominent Bitcoin commentator. The company has positioned itself as part of a broader trend of “Bitcoin treasury” firms, but one with a more operational focus on contributing to network development rather than simply holding the cryptocurrency.
The board, chaired by former PayPal chief financial officer David Jaques, combines figures from traditional finance and established Bitcoin businesses. Jaques, who was PayPal’s first finance chief, has also held senior roles at Silicon Valley Bank and Barclays.
Executive directors include New; Danny Scott, co-founder of the Isle of Man-based exchange CoinCorner, who becomes chief Bitcoin officer; David Boylan, CoinCorner’s CFO; and Zakk Lakin, the exchange’s chief technology officer. Russell Allen Farrington, co-founder of Axiom Venture Partners and a former Baillie Gifford investment manager, will serve as non-executive director.
“Leading UK-listed Bitcoin company”
Scott said the aim was to build B HODL into the “leading UK listed Bitcoin company”, combining treasury accumulation with hands-on infrastructure building. “We believe that we have the people, network, knowledge and strategy to successfully deliver on this ambitious objective,” he said.
Bitcoin’s volatility and the regulatory uncertainty surrounding digital assets remain key risks. But B HODL’s founders argue that the Lightning Network — a faster and cheaper way to process Bitcoin transactions — offers a sustainable revenue stream alongside the potential long-term appreciation of its holdings.
If successful, the flotation would give UK investors a new, listed route into Bitcoin exposure at a time when institutional demand for cryptoassets is slowly broadening. It would also mark a rare crypto-focused admission on Aquis, which has pitched itself as a home for innovative, early-stage growth companies.
