eToro, the prominent trading platform, has filed a confidential submission with the U.S. Securities and Exchange Commission (SEC) as it prepares for an Initial Public Offering (IPO) in the United States. The company aims for a listing that could value it at over $5 billion, with the potential for a New York debut as early as the second quarter of 2025. Major financial institutions, including Goldman Sachs, Jefferies, and UBS, are overseeing the IPO process.
Although eToro’s primary market is the United Kingdom, the company is pursuing a U.S. listing to access a wider pool of investors. CEO Yoni Assia has previously emphasized that while global clients are not typically involved in UK-based trading, the U.S. market offers enhanced liquidity and greater awareness of the assets being traded.
In 2023, eToro raised $250 million, bringing its valuation to $3.5 billion. According to sources familiar with the matter, this upcoming IPO could push the company’s valuation beyond $5 billion. The confidential filings with the SEC allow eToro to refine its IPO plans behind closed doors before making formal announcements.
eToro operates in 140 countries, allowing users to trade stocks, ETFs, and digital assets. However, after reaching a settlement with the SEC in September 2024 regarding securities law violations, eToro halted trading in most cryptocurrency assets. The company is now expanding its offerings to include ETFs, mutual funds, and pension plans, and has made notable acquisitions, such as the purchase of the Australian pension app Spaceship.
This filing comes at a time of growing optimism in the cryptocurrency sector, especially with Paul Atkins, a pro-crypto advocate, at the helm of the SEC. Industry leaders like Ark Invest believe that potential policy shifts under former President Trump’s influence could foster a more favorable environment for crypto companies, benefiting firms like Circle and Kraken, both of which are preparing for their own IPOs. Circle, the issuer of USD Coin, has already filed for an IPO, while Kraken is in the midst of a pre-IPO funding round after securing $100 million.
Related topics:
TON Blockchain Expands to U.S. Under Trump Administration
Coinbase vs SEC: Exchange Wins Partial Victory in US Third Circuit Court
Circle Expands MiCA-Compliant Stablecoins Through Bison Digital Assets Partnership
