After a Strong 2024 Boost from Crypto, EToro Files for Public Listing

EToro Revives IPO Plans as Crypto Trading Fuels Record-Breaking Revenue

EToro, the popular stocks and crypto trading platform, has 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 move marks a renewed attempt at going public after its 2021 SPAC merger plans, which sought a $10.4 billion valuation, fell through due to unfavorable market conditions.

According to the company’s Form F-1 filing, eToro’s revenue skyrocketed in 2024, tripling to $12.6 billion, with crypto-related transactions contributing a staggering $12.1 billion—up from just $3.4 billion in 2023. Net income also surged to $192 million from $15.3 million the previous year.

Founded in 2007 by Yoni and Ronen Assia, eToro allows users to trade stocks, cryptocurrencies, and commodities while offering a social trading feature that enables users to mirror the portfolios of experienced investors. The company’s IPO plans first surfaced earlier this year following reports of a confidential SEC filing.

The offering will be underwritten by major financial institutions, including Goldman Sachs, Jefferies, UBS, and Citigroup. eToro plans to trade under the ticker symbol “ETOR.”

With cryptocurrency trading at the core of its revenue boom, eToro’s public listing marks a major step in its expansion strategy, positioning the company for further growth in the evolving financial markets.