eToro Trading Platform Officially Files for IPO in the US
Cryptocurrency-friendly trading platform eToro has officially filed for an initial public offering (IPO) in the United States, according to a March 24 announcement. The company submitted a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) for the IPO of its Class A common shares.
eToro plans to list its shares on the Nasdaq Global Select Market under the ticker symbol “ETOR.” The filing is currently awaiting SEC approval and has not yet become effective.
IPO Valuation and Timeline
According to reports, eToro’s IPO could value the company at over $5 billion, with a potential listing as early as the second quarter of 2025. The IPO has attracted significant attention from major investment banks, including Goldman Sachs, Jefferies, UBS, and Citigroup, who will serve as lead managing bookmakers.
Previous Attempts to Go Public
This is not eToro’s first attempt to go public in the U.S. market. In 2021, the company planned to merge with Fintech Acquisition Corp V, a special purpose acquisition company (SPAC), at a valuation of $10.4 billion. However, the deal was terminated in mid-2022 due to unfavorable market conditions.
Strategic Importance of US Listing
Although the United Kingdom remains eToro’s largest market, the company is pursuing a U.S. listing to access a broader investor base and deeper liquidity. eToro founder and CEO Yoni Assia previously highlighted the strategic importance of the U.S. market, noting its ability to provide significant liquidity and awareness for listed assets.
About eToro
Founded in 2007, eToro is known for its user-friendly platform that allows beginners to easily trade stocks and cryptocurrencies. It was among the first regulated European trading platforms to offer Bitcoin trading services in 2013.
- Founded: 2007
- Headquarters: Israel
- Key markets: United Kingdom, Europe, United States
- Recent funding round (2023): $250 million at a $3.5 billion valuation
Quick Summary
- eToro files for IPO in the U.S. under ticker “ETOR.”
- IPO valuation expected to exceed $5 billion.
- Previous SPAC merger attempt in 2021 was terminated.
- U.S. listing aims to attract broader investor base and liquidity.
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