Surge in Crypto Trading Fuels eToro’s $4 Billion Ambition Through US IPO
Highlights
- eToro targets a $4 billion valuation with a Nasdaq IPO, aiming to raise $500 million.
- eToro's net income surged to $192 million in 2024, driven by sharp increase in crypto trading.
- A successful IPO could inspire a wave of fintech and crypto companies to go public.
Just a few years ago, social crypto trading platforms hardly received valuations above a few million dollars. Now, the sector is growing exponentially, year on year, churning out unicorns one after the other. A recent addition to the list of billion-dollar social trading platforms, eToro, is now targeting a whopping $4 billion valuation through an initial public offering (IPO) in the United States.
eToro IPO Aims to Raise $500 million
Founded in 2007, eToro is an Israel-based investment company that allows its users to invest in crypto, the stock market, and related assets. It plans to offer 10 million shares, priced between $46 and $50 each, aiming to raise up to $500 million. eToro IPO is intended to list the company’s shares on the Nasdaq Global Select Market under the ticker symbol “ETOR”.
The investors would remember that the previous attempt by the firm to go public via a $10 billion SPAC merger fell through in 2022. However, the recent surge in the crypto market has helped the multi-asset investment platform to revive its attempt to grow into a fintech giant.
Crypto Trading Leads to Surge in eToro’s Income
As per recent reports, eToro earned $192 million in net income during the calendar year ending December 2024, more than ten times what it reported in 2023. This enormous jump in income has been due to the sharp rise in cryptocurrency trading, which accounted for 38% of its overall commissions.
eToro’s US competitor Robinhood has also seen similar success last year. In the last quarter of 2024, Robinhood’s revenue grew substantially to reach $1.01 billion, driven by a sharp increase in crypto revenue by 700% to reach a whopping $358 million.
The eToro IPO is seen as a potential catalyst for a revival in fintech public offerings, which have been subdued in recent months due to market volatility. A successful listing of eToro could inspire other fintech and crypto companies to consider listing in public markets to fuel their growth ambitions.
- Expert Predicts SHIB Rally as Shiba Inu Restores Shibarium After $4M Hack Shutdown
- FLOKI Makes History With First ETP in Europe as Price Surges 30%
- BNB Rally to $1,300 Will Continue As Binance Hits Crucial Q3 Milestone, Says Expert
- Trump’s Real Estate Moves On-Chain as Hut8 Adds WLFI Tokens to Boost Treasury
- ASTER Token Defies Crypto Market Consolidation With 14% Upside, Expert See Next Stop at $3
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
