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cryptonews 2025-05-14 05:10:37

EToro Seeks to Pull In Almost $620M In US IPO Priced Above Projections

Crypto and stock trading platform eToro priced its upsized US initial public offering at $52 per share, seeking to raise nearly $620m after boosting its offer above the marketed range of $46 to $50. It plans to list on the Nasdaq Global Select Market under the ticker ETOR on May 14. Founded in 2007 as a social stock-trading network, eToro added crypto trading in 2018 and has since grown into one of the largest retail crypto brokers. In September, it agreed to limit its US crypto offerings to Bitcoin, Bitcoin Cash and Ether to settle SEC charges that it operated as an unregistered broker and clearing agency. eToro $ETOR looks like a strong IPO upcoming… pic.twitter.com/WvBzD7zPYo — Mike Zaccardi, CFA, CMT (@MikeZaccardi) May 13, 2025 BlackRock Eyes $100M Stake at IPO Price Regulatory filings show eToro seeks to sell 11.92m shares in the upsized deal. BlackRock signaled interest in purchasing up to $100m of shares at the IPO price. Goldman Sachs, Jefferies UBS and Citigroup served as lead underwriters. The Israel-based trading platform had earlier targeted a valuation of up to $4b in the offering. However, the upsized pricing now gives eToro a market cap of about $4.3b based on outstanding shares. Additionally, its fully diluted value approaches $5b once employee options are included. This marks a rebound from a failed 2022 SPAC merger that would have valued the company at more than $10b. At the time, wider market turmoil prompted eToro to pause its public listing plans. Crypto Firms Target US Listings in 2025 The renewed push comes as US IPO activity picks up under the current administration’s more permissive stance on markets and technology companies. Several other crypto firms are eying US IPOs in 2025 amid recovering markets and looser regulations. USDC issuer Circle, Kraken, Ripple, Gemini and Peter Thiel-backed exchange Bullish have all been linked to potential offerings. Going public would grant them fresh capital, boost transparency and credibility and draw investors who might otherwise avoid holding digital assets directly. The post EToro Seeks to Pull In Almost $620M In US IPO Priced Above Projections appeared first on Cryptonews .

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