eToro Files for IPO with $12.6 Billion Revenue from Crypto

eToro has filed for an initial public offering (IPO) on the Nasdaq, aiming to sell shares publicly after a stalled attempt in 2021.

• Revenue increased over threefold to $12.6 billion in 2023
• Cryptocurrency-related revenue rose to $12.1 billion from $3.4 billion
• Net income surged to $192 million in 2024, up from $15.3 million in 2023
• The company aims to raise $300 million–$400 million at a $4.5 billion valuation
• Valuation is lower than the previously sought $10.4 billion in 2021
• eToro plans to list under the ticker “ETOR”
• Major underwriters include Goldman Sachs, Jefferies, UBS, and Citigroup