eToro Files for IPO

The trading platform eToro has submitted a Form F-1 to the SEC with plans to conduct an IPO.

The company will issue an unspecified number of Class A shares under the ticker ETOR on the Nasdaq exchange.

According to Globes, eToro aims to raise $300–400 million with a preliminary valuation of $4.5 billion.

As per the filed documents, the platform’s net profit for 2024 amounted to $192 million, compared to $15.3 million in the previous period. Total revenue for the 12 months reached $12.6 billion, with 96% derived from crypto trading.

In 2021, eToro announced its intention to go public through a merger with FinTech Acquisition Corp. V. The preliminary valuation was approximately $10.4 billion.

The deal was postponed to the end of June 2022 due to the lack of approval from the U.S. Securities and Exchange Commission. In July, the platform suspended the process.

In 2024, eToro CEO Yoni Assia stated that eToro had not abandoned its plans to go public and mentioned that the firm had established relationships with exchanges, including Nasdaq.