EToro is making another go at going public. The Israeli trading platform just filed for a Nasdaq IPO, aiming to raise up to $400 million after a record-breaking year in crypto. According to its prospectus, revenue hit $12.6 billion in 2024—nearly quadruple the year before—with a staggering 96% of that coming from cryptocurrency trading. Not bad for a platform that once shelved its 2021 SPAC deal.
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EToro’s Growth Brings It to This Moment
Founded in 2007, EToro lets users trade everything from stocks and commodities to crypto—and even copy other traders’ moves. It’s now eyeing a $4.5 billion valuation, down from the $10.4 billion it targeted a few years ago.
Still, net income surged to $192 million in 2024, up from just $15.3 million in 2023, according to its Form F-1 filing. The IPO, under ticker “ETOR,” will be led by Goldman Sachs (GS), Jefferies (JEF), UBS (UBS), and Citigroup (C)….
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