EToro Files for IPO After Crypto Drives 2024 Revenue Surge

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By Francisco Rodrigues , AI Boost | Edited by Sheldon Reback Mar 25, 2025, 12:44 p.m. UTC EToro is looking to raise as much as $400 million in a Nasdaq IPO. (eToro) What to know : eToro’s revenue surged to $12.6 billion in 2024, with 96% coming from crypto trading. The IPO filing follows an abandoned 2021 SPAC merger and renewed investor interest. Stocks and crypto trading platform eToro filed to sell shares to the public for the first time on the Nasdaq, marking a renewed push for a listing after a previous attempt stalled in 2021. In a prospectus for the initial public offering (IPO), the Bnei Brak, Israel-based company said revenue more than tripled to $12.6 billion last year. The lion’s share came from cryptocurrency-related revenue, which rose to $12.1 billion last year from $3.4 billion in 2023. Story continues Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Founded in 2007 by Yoni and Ronen Assia, eToro allows users to trade assets including stocks, crypto and commodities, and to copy other traders' portfolios. The company’s IPO plans were revealed earlier this year through reports on a confidential filing with the SEC. Net income jumped to $192 million in 2024, up from just $15.3 million in 2023 according to data from its recent Form F-1 filing. The company is looking to raise $300 million–$400 million at a valuation of $4.5 billion, Globes reported. That’s below the $10.4 billion valuation it sought in 2021 during a planned merger with a special-purpose acquisition company, which was later shelved due to market conditions. The firm has filed to list under the ticker “ETOR.” The offering will be led by major underwriters including Goldman Sachs, Jefferies, UBS, and Citigroup. Disclaimer : Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. eToro IPO Francisco Rodrigues Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold. AI Boost “AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk's AI Policy. About About Us Masthead Careers CoinDesk News Crypto API Documentation Contact Contact Us Accessibility Advertise Sitemap System Status DISCLOSURE & POLICES CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. 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