eToro Moves Forward With Nasdaq Listing, Eyes $5 Billion Valuation

After facing various challenges, eToro has secretly submitted plans for an initial public offering (IPO) in the U.S., aiming for a value of more than $5 billion, according to reports. If this happens, eToro could join other top companies like Coinbase and Robinhood as one of the few public firms offering crypto trading in the U.S.

This isn’t the first time eToro has tried to go public. In 2021, the company planned to merge with another firm for $10.4 billion but canceled because the market wasn’t doing well. By 2023, eToro bounced back, raising $250 million and reaching a $3.5 billion value, thanks to better crypto and stock markets.

eToro Remains Committed To Its U.S. IPO Despite Challenges And Competition

When asked about the IPO, an eToro representative said the company is not talking about IPO rumors.  In 2024, eToro paid a $1.5 million fine to the SEC for breaking federal rules. It also promised to stop U.S. users from trading most cryptocurrencies on its platform, except for Bitcoin, Ether, and Bitcoin Cash.

Gurbir Grewal, who was the SEC’s enforcement director, stated that eToro is now following the rules by removing tokens that are considered investment contracts. This decision not only protects investors but also shows other crypto companies a way to follow the rules.

Even with these issues, eToro still wants to go public in the U.S. If it succeeds, it will face tough competition from Coinbase and Robinhood. But eToro’s focus on offering many assets and social investment tools might help it attract more users.

eToro’s plans to go public gained speed last year, as the company confirmed its interest during a CNBC interview. After the U.S. elections, interest in crypto investments rose sharply, and eToro saw a big increase in activity.

eToro Appointed Lale Akoner As Global Market Analyst

At a finance event, Daniel Moczulski, eToro’s UK Managing Director, said November’s crypto boom brought back many old investors. He explained that there are not many new accounts like before, but this shows how much the asset has matured.

eToro recently appointed Lale Akoner as its Global Market Analyst. In her new role, Lale will lead eToro’s market insights, guiding the company’s global team of experts to create reports on the economy and specific assets like stocks, commodities, currencies, ETFs, and crypto. She will also team up with eToro’s Investment Team to grow the company’s investment choices.

Lale has more than ten years of experience working with top global asset managers. Most recently, she was a multi-asset portfolio manager at Newton Investment Management. Before that, she held the role of a senior investment strategist at BNY Mellon Investment Management in both New York and London.