EToro files for US IPO – FT

The firm has submitted confidential filings to the SEC for an IPO, according to the Financial Times, citing sources.

Founded in 2007 as a “social investment network” with the aim of opening up capital markets to the masses, eToro lets its millions of users from around the world trade a host of assets, from fractional equities to crypto.

This is not the platform’s first run at going public: in 2022 it pulled the plug on a planned $10.4 billion Spac deal with a blank cheque company that would have seen it list on Nasdaq.

The following year, eToro raised $250 million in funding at a $3.5 billion valuation.

In September its US business agreed to pay $1.5 million and stop trading activity in nearly all crypto assets to settle SEC charges. It does still offer trading in bitcoin, bitcoin cash and ether.