eToro Group Ltd has announced its plans to conduct an initial public offering (IPO) in the US, which could be valued at $4 billion. eToro has filed with the US Securities and Exchange Commission (SEC) for approval to proceed with the IPO, aiming to raise approximately $500 million.
This is reported by Business • Media
As part of this offering, eToro and its shareholders intend to issue 10 million Class A ordinary shares, which will be sold at a price ranging from $46 to $50 per share. These shares will trade on the Nasdaq under the ticker ETOR.
Investor Interest and Underwriters
The draft statement from eToro to the SEC indicates that BlackRock has expressed interest in purchasing securities worth $100 million at the IPO price. Additionally, the company has reserved approximately 500,000 shares for its target program.
Key underwriters for the IPO include well-known financial institutions such as Goldman Sachs & Co. LLC, Jefferies, UBS Investment Bank, and Citigroup.
Previous Attempts and Regulatory Pressure
In early April 2025, Reuters reported that eToro postponed its IPO presentation due to unfavorable market conditions, particularly due to the tariff policies of President Donald Trump’s administration. In 2021, eToro had already attempted to go public on Nasdaq through a merger with a special purpose acquisition company (SPAC), but this attempt failed. At that time, the company’s valuation was $10.4 billion.
After abandoning the SPAC deal, eToro entered into an advanced investment agreement (AIA) with some counterparties, raising $250 million. However, in June 2023, the company suspended support for many tokens in the US due to increasing regulatory pressure, and subsequently removed nearly all crypto assets from its trading platform.