eToro Group Ltd., the global trading platform known for its social investing features, has officially confirmed plans to go public in the United States, aiming to raise up to $500 million through its initial public offering.
The move marks a significant milestone for the Israel-based fintech, which is seeking a valuation of up to $4 billion as it lists its shares on the Nasdaq Global Select Market under the ticker “ETOR.”
The IPO will consist of 10 million Class A common shares, with half offered by eToro itself and the other half by existing shareholders. The proposed price range is $46 to $50 per share, with underwriters granted a 30-day option to purchase up to 1.5 million additional shares to cover potential over-allotments.
Leading the offering are major financial institutions including Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup, with additional support from Deutsche Bank, Bank of America, and TD Securities.
eToro’s public debut comes after a previously planned $10.4 billion SPAC merger was canceled in 2022 due to adverse market conditions. In 2023, the company raised $250 million at a $3.5 billion valuation.
The platform, which enables users to trade stocks, cryptocurrencies, and other assets, boasts a user base of over 40 million across 75 countries. As of December 2024, eToro reported approximately 3.5 million funded accounts and $931 million in total commissions over the prior twelve months.
The IPO is launching amid a rebound in global equity markets, providing a favorable environment for new listings. Cornerstone investors, including funds managed by BlackRock, have shown interest in acquiring up to $100 million of shares in the offering.
The transaction is pending regulatory approval and is expected to be priced during the week of May 12, 2025.
eToro’s listing is seen as a bellwether for investor appetite in the fintech sector and for foreign companies seeking US capital markets exposure. The company’s strong market position, innovative platform, and renewed growth ambitions are set to be closely watched as it enters the public arena.