eToro could list in New York as early as the second quarter of the year after filing for a private IPO in the US

Cryptocurrency exchange and stock trading provider eToro has confidentially filed initial public offering documents with the Securities and Exchange Commission, according to inside sources. quote By Financial Times on January 16.

According to the report, eToro's IPO is backed by industry giants such as Goldman Sachs, Jefferies, and UBS as distribution partners. News Confirms A previous report was published in early December.

Additionally, people familiar with the matter said the company could list its shares in New York by the second quarter of 2025. eToro is targeting a $5 billion valuation for the IPO, an increase from the $3.5 billion market capitalization announced in 2023.

eToro's path to a US IPO

Plans for an IPO have been circulating since March 2021, when the Israel-based cryptocurrency and stock trading company sought to go public through a special purpose acquisition company deal with FinTech Acquisition Corp. V, a company backed by banking veteran Betsy Cohen.

The SPAC merger, which was aiming for a $10.4 billion valuation, ultimately failed during the 2022 bear market. At the time, eToro reported that the SEC rejected its bid.

Circle similarly attempted to go public through a SPAC agreement with Concord Acquisition Corp. However, that deal was also sunk by the SEC's delayed responses. Circle, the issuer of the second largest cryptocurrency stablecoin (US dollars), also filed a confidential IPO with the Securities and Exchange Commission. Digital payment giant He was transferred It moved its headquarters to New York pending SEC approval.

If successful, eToro will join an exclusive list of cryptocurrency-related companies listed on the New York Stock Exchange. This includes many bitcoins (Bitcoin) miners, such as Marathon Digital, as well as cryptocurrency exchange giant Coinbase and Trump Media's acquisition goal Pakt.

Company Agreed Paid $1.5 million in fines to settle securities violation allegations levied by the U.S. Securities and Exchange Commission.