EToro Files for Public Offering on New York Stock Exchange
eToro, a trading platform for stocks and cryptocurrencies, plans to launch an initial public offering (IPO) on the New York Stock Exchange. Key details include:
- The IPO could occur in Q2 2024.
- The company may be valued at over $5 billion.
- Goldman Sachs, Jefferies, and UBS are advising eToro.
- If successful, eToro would join Coinbase and Robinhood as publicly traded firms in the U.S. offering crypto trading.
- The expected valuation is significantly lower than the $10.4 billion target from its abandoned SPAC deal in 2021.
- In 2023, eToro raised $250 million at a $3.5 billion valuation.
- The firm settled SEC charges for $1.5 million regarding unregistered operations.
- eToro's assets under management total $11.3 billion, serving over 3 million customers.
- Trading restrictions limit U.S. users to bitcoin, bitcoin cash, and ether.
The company did not provide comments on the filing.