City minister Bim Afolami wants to attract younger generations to the mainstream stock market, particularly those invested in cryptocurrencies.
Afolami is keen on channelling the enthusiasm of young investors, many of whom have been introduced to the high-risk world of cryptocurrencies, into the traditional stock market.
London Stock Exchange faced significant challenges to drum up investment over recent years, with a drought of IPOs and a migration to the US only exacerbating the issue.
In 2023, less than £1 billion was fundraised by firms, marking a 40% decline from the previous year.
Speaking at Bloomberg's headquarters, Mr. Afolami said: " “About 6m people in this country hold crypto assets of some description.
“Those people are not people who don’t want to invest. The question is why is it they’re not doing it in the mainstream financial markets?
“I’m not saying they shouldn’t do it in crypto assets.
“If we make the mainstream capital markets attractive for them, that will help the flow of capital into our capital markets but critically it will help ownership particularly among younger people.