Israel-based crypto trading platform eToro plans U.S. IPO that would value it at $4 billion
Ethoro, the investment trading platform based in Israel, continued its plan to go public in the US after the company stopped the process earlier this year in the midst of volatility in the market following President Trump's tariff announcement.
ETORO, which allows customers to exchange both stocks and cryptos, is planning to raise $ 500 million in an initial public offering (IPO) to appreciate the company of nearly $ 4 billion, according to a regulation File From Monday.
The company and some shareholders have planned to offer a total of 10 million shares at a expected price per portion of $ 46 to $ 50, according to the filing. ETORORO will offer 5 million shares and some of its shareholders, including venture capital firms spark capital and BTM groups, will offer an additional 5 million distribution.
Funds and accounts managed by wealth manager Blackrock expressed interest in buying up to $ 100 million worth of IPO price sharing, the filing said.
ETORO is moving forward in advance of the US IPO after the first filed to go public in March. The company Be quiet Those plans after Trump on April 2 announced heavy tariffs on almost all US trading partners. The trade war threw the global economy into anxiety, causing the S&P 500 to fall 12% and Dow Jones's average industry fell 11% in a few days as investors fled US markets.
Ethoro is not the only company to stop plans to go public to the US while financial markets are backing down from tariff news. Fintech company Klarna and Ticket platform Stubbub also delayed their IPOs amid economic uncertainty, according to Bloomberg.
Since then, Trump has set up a 90-day pause in his tariffs and trade negotiations with foreign countries are said to be continuing. As the macroeconomic backdrop is running, ETORO continues the initial process of public offer. The SEC still needs to review and approve ethoro filing before the company is announced, but the deal may be priced soon next week, according to Bloomberg.
Ethoro, founded in 2007, offers a platform for customers to trade assets, including crypto, similar to the US Robinhood trading platform. ETORO reported a total revenue of $ 12.6 billion in 2024 compared to just $ 3.89 billion in 2023, filing shows.
In 2023, Ethoro costs $ 3.5 billion in a $ 250 million funding funded by the Ion Group and Softbank Investment Advisers.
The company plans to list at Nasdaq under ticker etor.
This story was originally featured on Fortune.com
