Israeli-based trading platform eToro is looking to secure a $4 billion valuation for its company with an IPO in the U.S. that will offer a total of 10 million Class A common shares. eToro’s anticipated initial public offering price for the shares is anywhere between $46 and $50, which means the firm is aiming to raise close to $500 million in equity.
The company will list on NASDAQ under the ticker symbol “ETOR”. As per the official filing with the SEC on May 5, 2025, Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup are the lead underwriters for this IPO.
The filing also shows that certain BlackRock-managed funds and accounts have indicated interest in buying $100 million in Class A common shares. This interest is not part of a binding agreement or agreed commitment from BlackRock.
eToro was created in 2007 by co-founders Yoni and Ronen Assia as a trading platform that made investing accessible to retail investors, along with free educational resources to inform new investors on how to trade their preferred stocks. eToro operates in 75 countries and has 40 million registered users.
Buying and selling cryptoassets remains a huge part of the trading platform’s services. Annual data from the SEC filing shows that revenue from cryptoassets was $3.431 billion and $12.147 billion for 2023 and 2024, respectively. Another main source of revenue for the company comes from net trading income in equities, commodities, and currencies, with revenues of $305.8 million and $328.7 million for 2023 and 2024. Adjusted EBITDA was $117.1 million and $303.8 million for the same periods.
eToro initially made a confidential filing with the SEC in January for an IPO. The company was one of many firms to delay its public offering amid market volatility caused by U.S. President Donald Trump’s declaration of tariffs on April 2, 2025.
