Israeli company eToro, a provider of crypto and stock trading services, plans to launch an IPO in the US. The company is expected to list its shares on the New York Stock Exchange by the second quarter of 2025.
eToro's IPO Plans
According to sources, eToro has already submitted documents to the US Securities and Exchange Commission for an IPO. It is expected to be backed by several major financial institutions such as Goldman Sachs, Jefferies, and UBS. The company's target valuation is $5 billion.
History of eToro's IPO
The company's first IPO plans emerged back in March 2021 when eToro intended to go public through a deal with FinTech Acquisition Corp. V. However, this deal was not completed due to the 2022 market downturn. At that time, the SEC rejected the company's bid.
Companies Listed with eToro
If the planned IPO is successful, eToro will join a small number of crypto companies listed on the New York Stock Exchange. Among such companies are several Bitcoin miners like Marathon Digital and the major crypto exchange Coinbase.
If eToro succeeds in going public, it will be a significant event for the cryptocurrency and stock services market, allowing the company to strengthen its position on the international stage.
