TLDR
- EToro is aimed at $ 4 billion in the upcoming Nasdaq -iPo under Ticker “ETOR”
- The company and shareholders strive to collect $ 500 million by offering 10 million shares that are priced between $ 46- $ 50
- Blackrock indicated interest in buying up to $ 100 million in stocks
- Crypto Trading Revenue increased from $ 3.4 billion 2023 to $ 12.1 billion 2024
- IPO plans were delayed earlier due to market vollatility after Trump’s customs messages
Israel-based trading platform ETORO is aimed at a valuation of up to $ 4 billion in its upcoming US initial public offer. The company, which enables users to invest in shares and choosing crypto courses, is moving forward with its long-awaited New York list after previous delays.
ETORO and existing shareholders plan to collect up to $ 500 million by offering 10 million shares that are priced between $ 46 and $ 50 each. The company will list on the Nasdaq Global Select market under the ticker symbol “MTOR.”
IPO arrives at a time when the stock markets have regained some stability after the latest volatility. Etoro had previously delayed investment presentations last month due to market conditions following President Trump’s customs messages on April 2, causing the global market turbulence.
This is not ethoro’s first attempt to publish. The company had previously seen entering public markets through a merger with a special acquisition company (Spac) into a valuation of $ 10.4 billion, but these plans fell apart in 2022.
Crypto growth and regulatory challenges
ETORO reported that its revenue from Cryptocurrency trading reached $ 12.1 billion in 2024, up from $ 3.4 billion in 2023. However, the company expects Crypto to report 37% of its commission from trading activity during the first quarter of 2025, from 43% during the year before.
The platform has met with regulatory challenges in the crypto gym. In September, ethoro agreed to limit its US Cryptocurrency offers to Bitcoin, Bitcoin Cash and Ether as part of a solution with Securities and Exchange Commission on charges it served as an unregistered broker and unregistered Clearing Office.
In its SEC archiving, ethoro emphasized several crypto-related risks for its operations. These include potential negative perceptions of cryptocorate that it lists, US rules at state level crypto which “can impose burden on our resources” and costs associated with following European Union markets in crypto assets (Mica) laws.
Etoro was founded in 2007 and collected $ 250 million in a funding round in 2023 at a valuation of $ 3.5 billion. The company will compete with Robinhood Markets Inc., who has seen its shares climb by almost 30% so far this year despite a dip in crypto trade during the first quarter.
EToro submitted an updated ipo prospect who tried to collect $ 500 million to a $ 4b valuation $ Come.
> Mentions crypto 630 times
> Crypto trading is 38% of transaction revenue
> $ ETor contained $ 113 million in digital assets (probably BTC) as of the end of the year 2024
> Net profit of $ 192 million, so ~ 21x PE. pic.twitter.com/o0vt83pqyz– Matthew Sigel, Recovering CFA (@matthew_sigel) May 5, 2025
Asset Manager Blackrock has shown interest in buying up to $ 100 million in the shares in the offer. ETORO has also allocated 500,000 shares to sell through a targeted share program, usually aimed at employees.
IPO is led by Goldman Sachs, Jefferies, UBS Investment Bank and Citigroup. Etoro’s offer will serve as a test of investors appetite for the first time stock sales after the latest market vollatility.
Other crypto companies are also preparing for public offers. Stablecoin Emittent Circle submitted on April 1 but paused its plans in the middle of market uncertainty, while the Crypto Exchange Kraken is reportedly considering a public offer at the beginning of next year.
When eToro goes ahead with its IPO, investors will look carefully to see if the company can successfully tell its growth history in what remains a very competitive market.
