EToro Targets Over $5 Billion U.S. IPO

eToro, a trading platform for stocks and cryptocurrencies, has confidentially filed for an initial public offering (IPO) in the U.S., targeting a valuation of over $5 billion. This move marks a renewed attempt after a previous plan to go public via a SPAC merger in 2021, valuing the company at $10.4 billion, was abandoned due to unfavorable market conditions. In 2023, eToro raised $250 million at a $3.5 billion valuation, and it has since seen a valuation boost amid rising market optimism. The platform, founded in Israel in 2007, manages $11.3 billion in assets for over 3 million users globally. Regulatory challenges in the U.S. have led eToro to restrict its cryptocurrency offerings to Bitcoin, Ethereum, and Bitcoin Cash, following a $1.5 million settlement with the SEC. With advisors like Goldman Sachs, Jefferies, and UBS, eToro aims to go public as soon as the second quarter of 2025, benefiting from a more favorable market environment and increasing investor interest in fintech IPOs.