eToro Eyes $5 Billion Valuation with Planned U.S. IPO

Israeli trading platform eToro is reportedly bypassing the London Stock Exchange in favor of pursuing an initial public offering (IPO) in the United States.
As reported by The Financial Times, sources indicate that the crypto-friendly firm has filed confidentially with the U.S. Securities and Exchange Commission (SEC), despite having its largest customer base in the United Kingdom. Confidential filings allow companies to work on their IPO plans behind the scenes until they’re ready to disclose details publicly.
The report suggests eToro is aiming for a valuation of $5 billion and could debut on the New York market as early as the second quarter of this year. The company’s founder and CEO, Yoni Assia, previously stated that a U.S. listing would provide better access to investors compared to a UK listing.
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He noted that the U.S. market offers both greater liquidity and higher visibility for traded assets, aligning more closely with the company’s global client base.
eToro, founded in 2007, attempted to go public in 2021 through a $10.4 billion merger with a Special Purpose Acquisition Company (SPAC), but the deal was ultimately scrapped amid the downturn in the SPAC market.
In 2023, the firm raised $250 million in funding, achieving a valuation of $3.5 billion. Notable investors in that round included SoftBank and Ion Group.