EToro Files for IPO as Crypto Boom Drives Massive Revenue Growth
EToro, the multi-asset trading platform, has officially filed for an initial public offering (IPO) on the Nasdaq, aiming to raise between $300 million and $400 million at a valuation of approximately $4.5 billion.
This marks a renewed attempt at going public after a 2021 effort, which sought a $10.4 billion valuation through a special-purpose acquisition company (SPAC) merger, was ultimately abandoned due to market conditions.
According to eToro’s recently submitted Form F-1 filing, the company saw a significant financial surge in 2024. Revenue more than tripled to $12.6 billion, with crypto-related transactions contributing $12.1 billion—up from $3.4 billion in 2023. Net income also soared to $192 million, a sharp rise from $15.3 million the previous year.
Founded in 2007 by Yoni and Ronen Assia, eToro enables users to trade stocks, cryptocurrencies, and commodities, as well as replicate the portfolios of experienced traders. The company’s IPO plans were first hinted at earlier this year when reports surfaced about a confidential SEC filing.
The public offering will be backed by major financial institutions, including Goldman Sachs, Jefferies, UBS, and Citigroup. eToro has filed to trade under the ticker symbol “ETOR.”
This move comes as eToro looks to capitalize on the renewed interest in cryptocurrency markets, solidifying its position as a major player in the online trading space.
