eToro has reportedly filed a confidential submission with the Securities and Exchange Commission (SEC) in preparation for an Initial Public Offering (IPO) in the United States.
On January 16, the Financial Times said that the IPO could value eToro at over $5 billion, with a potential listing in New York as early as the second quarter of 2025. The major banks like Goldman Sachs, Jefferies, and UBS are mainly working with process.
eToro is pursuing a US listing to reach a broader pool of investors, although the United Kingdom is the major market for the company. eToro’s CEO, Yoni Assia, previously noted that most global clients don’t trade UK shares, and the US market offers greater liquidity and awareness for traded assets.
The company raised $250 million in 2023, making the company valued at $3.5 billion. As per the source familiar with the plan, this IPO could increase its valuation to over $5 billion. Confidential filings with the SEC allow companies like eToro to work on their IPO plans privately before making official disclosures.
eToro allows users to trade stocks, ETFs, and digital assets in 140 countries. However, it stopped trading most crypto assets after the settlement with the SEC over securities law violations in September 2024.
The company is expanding its services to include ETFs, mutual funds, and pension plans. eToro recently bought Spaceship, an Australian pension management app, and partnered with a UK pension fund.
The filing comes as excitement grows in the crypto world, especially with Paul Atkins, a pro-crypto businessman, leading the SEC. Ark Invest believes that Trump’s policies could help boost the crypto industry, creating a better environment for digital asset companies like Circle and Kraken to go public.
Circle, the issuer of the USD Coin stablecoin, has already filed for an IPO, and Kraken is preparing for its own IPO after raising $100 million in a pre-IPO funding round.
