eToro Targets US Market with $5 Billion IPO Filing

Crypto News Business

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 16, 2025

Key Takeaways

eToro has filed confidential documents with the SEC, aiming for a $5 billion US IPO;
The IPO could launch by Q2 2025, with major banks like Goldman Sachs and Jefferies advising;
eToro seeks US market entry to boost visibility and tap into deep liquidity pools.

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eToro Targets US Market with $5 Billion IPO Filing

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eToro, a cryptocurrency trading platform established in 2007, has taken steps to go public in the United States.

According to a Financial Times report on January 16, the company submitted confidential documents to the US Securities and Exchange Commission (SEC) earlier this month.

If the SEC approves the proposal, eToro’s initial public offering (IPO) could value the company at over $5 billion.

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Additionally, eToro might debut on a New York exchange as early as the second quarter of 2025. Investment banks, including Goldman Sachs, Jefferies, and UBS, are reportedly assisting with the IPO process.

Confidential IPO filings allow crypto trading companies like eToro to plan and refine their public offering strategies without immediately disclosing details. This approach gives firms more time to prepare before releasing official documents.

Although eToro’s largest market is the United Kingdom, the company aims to expand its investor base through a US listing.

Yoni Assia, eToro’s founder and CEO, previously highlighted the advantages of the US market, noting its deep liquidity and greater visibility for traded assets.

Assia explained, “Very few of our global clients would trade UK shares”, emphasizing the need to tap into the US market’s unique opportunities. He also noted:

Something in the US market creates a pool of both deep liquidity and deep awareness for those assets that are trading in the US.

Meanwhile, on January 2, a crypto brokerage called FalconX acquired Arbelos Markets. What does the company aim to achieve with the acquisition? Read the full story.