EToro Moves Forward With Nasdaq IPO, Seeks $400M Amid Crypto Boom
EToro, a global trading platform specializing in stocks and cryptocurrencies, has officially filed for an initial public offering (IPO) on the Nasdaq. The company is looking to raise between $300 million and $400 million at an estimated valuation of $4.5 billion.
This marks eToro’s renewed push to go public after a failed 2021 attempt, in which it sought a $10.4 billion valuation through a SPAC merger that was ultimately scrapped due to market conditions.
According to eToro’s recently filed prospectus, the company experienced explosive growth in 2024, with revenue soaring to $12.6 billion—more than triple the previous year’s total. Crypto-related transactions accounted for $12.1 billion of that, a significant jump from $3.4 billion in 2023.
Founded in 2007 by Yoni and Ronen Assia, eToro provides access to a range of financial instruments, including stocks, cryptocurrencies, and commodities. Its social trading features allow users to copy the portfolios of experienced investors. Earlier this year, reports surfaced about the company’s confidential IPO filing with the SEC.
Net income also surged, rising from $15.3 million in 2023 to $192 million in 2024, according to its Form F-1 filing.
Leading financial institutions, including Goldman Sachs, Jefferies, UBS, and Citigroup, are set to underwrite the offering. eToro has applied to trade under the ticker symbol “ETOR.”
The company’s IPO comes as it capitalizes on the resurgence of crypto trading, aiming to strengthen its foothold in the financial technology space.
