Crypto-friendly trading platform eToro has filed for an initial public offering (IPO) in the United States, aiming to list its Class A common shares on the Nasdaq Global Select Market under the ticker symbol “ETOR.” The company announced on March 24 that it submitted a Form F-1 registration statement with the U.S. Securities and Exchange Commission (SEC), marking a renewed effort to go public after several earlier attempts.
The filing follows confidential IPO preparations disclosed in January and may value eToro at over $5 billion, according to unnamed sources cited by the Financial Times. The IPO could launch as early as the second quarter of 2025, pending regulatory approval.
eToro has previously sought public market entry. In 2021, it planned to merge with Fintech Acquisition Corp V, a special purpose acquisition company (SPAC), in a $10.4 billion deal that was ultimately canceled in mid-2022 due to market volatility.
Despite its roots in the United Kingdom—still its largest market—eToro is pursuing a U.S. listing to access deeper liquidity and broader investor interest. “Very few of our global clients would trade UK shares,” eToro founder and CEO Yoni Assia remarked last year, citing the strategic advantage of U.S. exposure.
eToro is widely used by retail investors, particularly newcomers, for trading stocks and cryptocurrencies due to its user-friendly interface. The IPO has attracted major financial institutions as lead underwriters, including Goldman Sachs, Jefferies, UBS, and Citigroup.
Founded in 2007, eToro was among the first regulated trading platforms in Europe to offer Bitcoin services, having introduced crypto features as early as 2013. In 2023, the company raised $250 million in a funding round that valued it at $3.5 billion.
As regulatory scrutiny and market interest in crypto-related platforms grow, eToro’s Nasdaq debut—if successful—could further validate the maturing relationship between traditional finance and digital asset services.