eToro goes for IPO in the U.S.

-

The popular crypto-savvy trading platform has just made headlines by confidentially filing for an initial public offering, an IPO in the U.S. Per Financial Times’ report, eToro is eyeing a New York listing as soon as Q2 this year.

Growth mode activated?

Now, here’s the juicy part, because sources say this IPO could be valued at over $5 billion.

That’s a quite big leap from its $3.5 billion valuation back in 2023 when it collected $250 million in investments.

Why the big move to the U.S., you ask? CEO Yoni Assia believes that tapping into the American market will give eToro access to a much larger pool of investors.

Sure, the UK is still their biggest market, but let’s be real, most global clients aren’t exactly lining up to trade UK stocks.

Seasoned crypto player

eToro has been around since 2007 and has been a trailblazer in trading both equities and cryptocurrencies.

They jumped on the Bitcoin bandwagon back in 2013 and expanded their U.S. crypto offerings in 2019 to include popular coins like Bitcoin, Ether, and XRP.

Unfortunately, things took a turn last September when eToro halted trading on most crypto assets after reaching a settlement with the SEC over some securities law violations.

New ambitions, new goals with the IPO

This confidential filing allows eToro to work behind the scenes on its IPO plans without all the public scrutiny.

And they’ve got some heavy hitters backing them up, as major banks like Goldman Sachs, Jefferies, and UBS are reportedly lending a hand with this IPO.

And worth to remember that this IPO isn’t just a routine corporate move now, but it’s also a significant milestone for eToro as it adapts to the world of fintech.

With crypto regulations constantly changing, this step could reshape eToro’s standing in the global trading arena.

Have you read it yet? Is Cardano about to take off? What the experts say?

LATEST POSTS

Nigerian Court Orders Arrest of CBEX Promoters in ₦1 Billion Crypto Fraud Case

A Federal High Court in Abuja approved the Economic and Financial Crimes Commission’s (EFCC) request to arrest six individuals involved with Crypto Bridge Exchange (CBEX)....

Bitcoin whales feast while retail panics

You ever get the feeling you’re watching a rerun, but the stakes just keep getting higher? That’s Bitcoin right now. The exchanges are looking more...

Dubai + December = Binance Blockchain Week

The city’s already dripping with gold and ambition, but now, the world’s crypto bosses are rolling back into town. The Binance Blockchain Week is making...

Justin Sun Tops TRUMP Token Leaderboard Ahead of Gala Dinner Invite

Justin Sun, founder of Tron, may be behind the top wallet on the TRUMP token leaderboard, sparking speculation about his invitation to Donald Trump’s TRUMP...

Most Popular

Guest posts