eToro Files for IPO as Crypto Companies Consider Listings

Trading platform eToro filed for an IPO, anticipating more crypto businesses to list on exchanges soon. The SEC filing follows a $1.5 million settlement with the regulator for operating as an unregistered broker related to its crypto trading platform.

Key points:

eToro reported 23 million crypto trades in Q4 2024, up from 9 million in Q3.
Approximately $12.1 billion of its $12.6 billion revenue in 2024 was from crypto trading.
Crypto exchange Kraken is reportedly seeking to raise $1 billion in debt ahead of a potential IPO.
Galaxy Digital's CEO expects numerous crypto companies to list on NYSE or Nasdaq by mid-2024.
10T Holdings' CEO predicts a boom in crypto IPOs and M&A activity, suggesting several firms may go public soon.
A January survey indicated that 25% of financial advisers interested in crypto prefer exposure via equity ETFs.
Cinthia Murphy noted that crypto equities are easier to understand due to their company valuations and fundamentals.