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crypto.news 2025-05-02 16:48:52

eToro eyes US IPO next week following Trump-induced volatility: report

eToro Group Ltd. is preparing to launch its long-delayed U.S. initial public offering as soon as next week, Bloomberg reported, citing people familiar with the matter. The Israel-based trading platform had paused its IPO plans in early April amid market turmoil triggered by former President Donald Trump’s tariff announcements, which briefly derailed dealmaking activity, Bloomberg reports . The company had filed with the SEC in late March, but “Liberation Day” volatility led eToro to delay the offering. With volatility easing and comparable platforms like Robinhood up over 16% in the past month, eToro is now reconsidering a public debut, Bloomberg wrote. Founded in 2007, eToro offers trading in stocks and crypto, and lets users mirror top investors’ portfolios. It previously attempted to go public via a SPAC at a $10.4 billion valuation. Its 2024 financials show a sharp rebound, with $931 million in commissions and $192 million in net income, up from $639 million and $15.3 million in 2023. You might also like: Texas lawmaker pushes for crypto ATMs in federal buildings ‘ETOR’ The IPO is being led by Goldman Sachs, Jefferies, UBS, and Citigroup. Shares would trade on the Nasdaq under the ticker “ETOR.” eToro’s listing would mark one of the first IPOs to revive after the Trump-induced IPO freeze. The company also recently settled SEC allegations over unlicensed brokerage operations, agreeing to pay $1.5 million and limit U.S. crypto offerings. Despite regulatory scrutiny, the broader crypto sentiment has improved, with Bitcoin trading above $100,000 and expectations of looser SEC oversight under Trump’s incoming administration. eToro is targeting a valuation above the $3.5 billion it reached in its 2023 funding round, backed by SoftBank Vision Fund 2 and ION Group. The final IPO decision could still shift based on market conditions. You might also like: Strategy’s BTC gains prompt bullish $521 price target from H.C. Wainwright

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