Trading app eToro just dropped some big news — it’s heading to the U.S. stock market and could be worth up to $4 billion once it’s live. Yup, the same platform where you buy both stocks and crypto is planning to list on Nasdaq with the ticker “ETOR.”
The Breakdown:
According to a filing with the SEC on May 5, eToro wants to raise $500 million by selling 10 million shares priced between $46 and $50. Half of those shares are coming straight from the company, while the other half are being sold by OGs like:
- Co-founder & CEO Yoni Assia
- His brother Ronen Assia
- Investors like Spark Capital, BRM Group, and Andalusian Private Capital
So yeah, it’s a mix of new money and early-backer exits.
Big Names Want In
Even the GOATs are circling. BlackRock might scoop up $100 million worth of shares. Plus, 500,000 shares are saved for a “directed share program” — basically, a thank-you for employees and early fans.
Crypto Still Poppin’
Crypto isn’t just a side hustle for eToro. In 2024, it pulled in a wild $12.1 billion in crypto-related revenue — a massive jump from $3.4B in 2023. But heads-up: eToro says crypto’s slice of the commission pie might shrink a bit in early 2025.
Still, compared to rivals like Robinhood, which had a dip in crypto trading earlier this year, eToro’s looking solid.
Speed Bumps Ahead?
Not all vibes are green candles, though. eToro mentioned a few things that could slow them down:
- Regulations from U.S. states and the EU’s new MiCA rules might bring added compliance costs
- Negative media around crypto coins could hurt user retention
- Delays from wild market swings (like Trump’s trade policies in April) already pushed this IPO back once
SEC’s Vibe Shift
The SEC’s new chairman Paul Atkins is kinda crypto-friendly. Since he stepped in, the agency backed off some major lawsuits — like dropping cases against Coinbase and Cumberland DRW, and closing the one on Uniswap Labs with no action. 👀
That might explain why more crypto giants like Circle and Kraken are also flirting with IPOs.
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