eToro, a cryptocurrency-friendly trading platform, has submitted a confidential filing for an initial public offering (IPO) in the United States, targeting a valuation exceeding $5 billion. This move aims to expand its market presence, particularly in New York, potentially listing as soon as the second quarter of 2025. Despite the UK being its largest market, eToro seeks to access a broader investor base in the U.S. The firm raised $250 million in 2023 at a valuation of $3.5 billion, with reports suggesting it could be valued at more than $5 billion in its upcoming IPO. Major banks, including Goldman Sachs, Jefferies, and UBS, are reportedly assisting eToro with its IPO plans. Founded in 2007, eToro provides a platform for trading various assets such as stocks and cryptocurrencies, and it recently reached a settlement with the U.S. SEC over federal securities law violations.

Source 🔗