eToro Files for Nasdaq IPO, Targets $4.5 Billion Valuation

The trading platform aims to raise $300-$400 million as cryptocurrency trading fuels rapid revenue growth, but IPO timing and share price remain undecided.

• eToro officially filed its Form F-1 with the SEC, disclosing plans to go public on the Nasdaq under the ticker 'ETOR.'
• The company reported a 2024 revenue surge to $12.6 billion, with $12.1 billion driven by cryptocurrency trading, up from $3.4 billion in 2023.
• Net income climbed to $192 million in 2024, a significant increase from $15.3 million in the previous year.
• The IPO seeks to raise $300-$400 million at a valuation of $4.5 billion, lower than its abandoned 2021 SPAC merger valuation of $10.4 billion.
• eToro operates in 75 countries with 3.5 million funded accounts, leveraging its unique social trading model to attract novice investors.

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