eToro files for IPO in the US

Trading and investing platform eToro has announced that it has filed a registration for an IPO in the United States. Once the filing becomes effective, shares of the company will be offered on the Nasdaq exchange.

eToro is an international multi-asset investment platform. It was founded in 2007 and has become a popular platform that is used worldwide. Users can buy and sell stocks, trade in ETFs, cryptocurrencies or gold and silver.

IPO for Class A shares

This week, the platform announced that it has filed a registration statement on Form F-1. This form is filed with the Securities and Exchange Commission (SEC) in the United States. By doing so, eToro has now filed for a proposed initial public offering (IPO).

The amount of shares and price range involved in the IPO has not been determined yet

The IPO is related to the company’s common shares, or Class A shares. It has not been determined how many shares will be offered and what the price range will be. However, once the IPO takes place, the shares will be listed under ETOR on the Nasdaq Global Select Market.

3.5 million users

In addition to the filing, eToro has also disclosed its financial results for 2024. The platform now has 3.5 million users, which is an increase of 15 percent compared to 2023. At least 70 percent of users are based in Europe, 16 percent are based in the Middle East and 10 percent are based in the US.

‘Most of eToro’s revenue comes from cryptoassets’

The results also show that most of the platform’s revenue comes from its cryptocurrency trade. eToro buys cryptocurrencies for its users, who then save the coins in their own e-wallets. In the fourth quarter of last year, its revenue from cryptoassets was 5.8 million. This means that its revenue from the last quarter of 2023 has more than quadrupled.