EddieJayonCrypto

 20 Jan 25

tl;dr

Israel-based retail trading firm eToro is bypassing the London Stock Exchange for a potential US initial public offering (IPO). The company has reportedly made confidential filings with the US Securities and Exchange Commission (SEC) despite its primary market being the UK. eToro aims for a $5 billi...

eToro, the Israel-based retail trading firm, is shunning the London Stock Exchange in favor of a potential US initial public offering (IPO). Despite its primary market being the UK, eToro has reportedly made confidential filings with the US Securities and Exchange Commission (SEC) aiming for a $5 billion valuation and a Q2 2023 launch in the New York markets.


The decision to seek a US listing comes after eToro's 2021 SPAC deal worth $10.4 billion fell through. In a 2023 funding round, the firm raised $250 million, valuing it at $3.5 billion, with investments from notable entities like SoftBank and Ion Group. CEO Yoni Assia believes that a US listing could provide access to a larger investor base, citing the deep liquidity and awareness of assets in the US market as a compelling factor.

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