Crypto Boom Fuels eToro’s $4.5 Billion IPO Bid on Nasdaq
Online trading platform eToro has officially filed for an initial public offering (IPO) on the Nasdaq, aiming for a valuation of approximately $4.5 billion after a year of explosive revenue growth largely driven by the surge in cryptocurrency trading, Reuters reported on Tuesday.
The company, which allows users to trade stocks, crypto, and other assets, is looking to raise between $300 million and $400 million in the offering, marking a renewed push to go public after a previous attempt was shelved in 2021.
According to a prospectus filed with the SEC, eToro reported a revenue of $12.6 billion in 2024, more than tripling its 2023 figure of $3.4 billion. Notably, a remarkable 96% of this revenue, amounting to $12.1 billion, was…
