Fueled by Crypto Growth, EToro Officially Files for IPO

EToro Pushes for Nasdaq IPO, Aims to Raise $400M as Crypto Revenue Soars

EToro, a major stocks and cryptocurrency trading platform, has filed for an initial public offering (IPO) on the Nasdaq, targeting up to $400 million in funding at a valuation of approximately $4.5 billion.

This marks the company’s second attempt at going public after a 2021 plan, which sought a $10.4 billion valuation via a SPAC merger, was abandoned due to shifting market conditions.

According to eToro’s recently filed prospectus, the company’s revenue skyrocketed in 2024, tripling to $12.6 billion. A significant portion of this growth came from cryptocurrency-related transactions, which surged from $3.4 billion in 2023 to $12.1 billion last year.

Founded in 2007 by Yoni and Ronen Assia, eToro offers users the ability to trade stocks, crypto, and commodities while also providing social trading tools that allow investors to follow and replicate the strategies of top traders. The company’s IPO intentions were first hinted at earlier this year after reports of a confidential SEC filing.

Net income saw a sharp increase as well, rising from $15.3 million in 2023 to $192 million in 2024, according to data from its Form F-1 filing.

The IPO will be backed by major underwriters, including Goldman Sachs, Jefferies, UBS, and Citigroup. eToro has applied to list its shares under the ticker symbol “ETOR.”

With its renewed push for public listing, eToro is looking to leverage the booming crypto market and solidify its position as a leader in online trading.

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