The cryptocurrency-friendly trading platform eToro files for IPO in the United States
The cryptocurrency trading platform eToro has filed for an IPO in the United States, reportedly targeting a valuation of $5 billion with plans to expand by listing in New York soon.
The cryptocurrency-friendly trading platform eToro is said to have filed for an initial public offering (IPO) in the United States.
eToro has submitted a confidential filing to the U.S. Securities and Exchange Commission (SEC) in a move towards a potential IPO in New York, the Financial Times reported on January 16.
The report cites anonymous sources familiar with the matter, stating that eToro's IPO filing submitted in January could value the company at over $5 billion.
According to the report, eToro could be listed in New York as early as the second quarter of 2025.
The U.S. IPO will allow access to a larger pool of investors
Although the United Kingdom remains the largest market, eToro is pursuing a listing in the United States to tap into a broader investor base.
The confidential filing with the SEC allows companies to work privately on their public offering plans until they decide to disclose official documents.
In 2023, eToro raised $250 million in a funding round that valued the brokerage at $3.5 billion. The company could now be valued at over $5 billion in the upcoming IPO, one person familiar with the stock issuance plans said.
