Some of the world’s leading banks are lining up to take investment platform eToro public on New York’s Nasdaq on Wednesday, May 14.
Citigroup, Goldman Sachs, Jeffries and UBS are listed as lead underwriters on this week’s deal, following the company’s unsuccessful attempt in 2021/2.
According to Nasdaq, the company plans to offer 10 million shares at a price range of $46 to $50 per unit, aiming to raise up to $575m through the initial public offering.
The social investment platform, launched by CEO Yoni Assia in 2007, currently hosts a global community of over 20 million users connecting across its social feed, according to a company statement.
eToro was one of the first to pioneer the purchase, trading and investment in a range of crypto currencies, which have seen a recent boom in interest
In a filing to the US Securities Exchange Commission, the company said its revenue from crypto assets was $12.1bn in the calendar year 2024. This was up 254% on the 12 months earlier.
“The increase was primarily due to a rise in retail investors’ trading activity in crypto assets,” the filing said.
The SEC filing also noted eToro’s assets under administration to be $14.8bn, as of March 31, 2025.
It has applied to list its shares on the Nasdaq Global Select Market under the ticker symbol ETOR.
If the initial public offering is completed, the company expects to make ETOR shares available for trading on the eToro platform “as soon as market conditions allow”.
eToro users can hold a range of traditional to innovative assets and invest them directly by investing in their own choice of portfolio assets or by copying other investors.
