- Crypto-friendly trading platform eToro files for US IPO.
- eToro is eyeing the IPO at a valuation of $5 billion.
eToro, a crypto-friendly trading platform and social investment network, has reportedly filed for public listing in the United States.
The Financial Times reported on Jan. 16 that eToro had submitted an application for an initial public offering with the US Securities and Exchange Commission. The company’s quest for an IPO in the US comes with the SEC filing likely opening up eToro’s public trading in New York, the FT reported.
eToro is eyeing the IPO at the valuation of $5 billion, with the trading platform likely to be listed as soon as Q2 of 2025.
While eToro’s largest footprint remains in the United Kingdom, the company wants to tap into the vast potential that’s the US market. The company raised $250 million in a funding round in 2023, with its valuation at $3.5 billion. Ahead of the key milestone, eToro is working with global banks such as Goldman Sachs, UBS and Jefferies as it eyes over $5 billion in the IPO.
eToro, founded in 2007, had increased its business model to include crypto. However, in September 2024, it ceased nearly all of its crypto offerings amid the negative pressure from the SEC.
