eToro Targets $4 Billion Valuation, Calling Itself a ‘Pioneer in the Crypto Space’

Etoro has launched the roadshow for its American IPO, where the trading platform established in Israel focuses on a valuation of $ 4 billion.

The company also praised its legitimacy in the crypto industry.

“From the earliest days, Etoro has been a pioneer in the Crypto room,” wrote Yoni Assia, CEO of Etoro, in the submission. “This is partly driven by my own early adoption of and personal belief in Bitcoin and the transforming potential of blockchain technology.”

A Updated F-1 registration form It clarifies that Etoro is planning to offer 10 million normal class A shares, at a target price between $ 46 and $ 50.

This can be equal to an increase of $ 500 million, but the trading platform has also included an option for the insurers of the IPO to buy an additional 1.5 million class A shares, which is intended to cover all over-tides and that can be exercised for 30 days from today’s date.

Underwriters for the offer on the Nasdaq Global Select Market are Goldman Sachs, UBS, Jefferies, Bank of America, Citigroup, Cantor Fitzgerald and Deutsche Bank.

Following the IPO, Etoro has a total of 80,873,543 class A and class B shares, which gives it a rating of between $ 3.7 billion and $ 4 billion, although this could rise to $ 4.12 billion if the above option is exercised.

Etoro had started planning his IPO in January, according to reports, with the trading platform Submitting its original F-1 form In March.

Nevertheless, it postponed its road show last month, largely in view of the market turbulence that followed the announcement of the Trump government of radical international rates.

The revival with an updated F-1 form could be considered this week as a sign of renewed trust in worldwide markets, whereby the Nasdaq and Bitcoin both rose by around 13% because the company postponed its first road show on 4 April.

The company repeatedly refers to cryptocurrencies during his F-1 form and devotes a section to the introductory letter from Crypto CEO Assia.

“Although Crypto’s children’s shoes are characterized by volatility, the underlying principles of transparency, safety and inclusiveness resonate deep with the mission of Etoro,” he wrote. “If one of the first global investment platforms that embraces Crypto, we have helped millions of investors to get access to this emerging asset class in a safe way.”

The submission also shows that cryptocurrencies were 37% of the total committee of the company for the trading activity for the three months to 31 March 2025, in contrast to 43%, 4%, 16% for shares, currencies and raw materials.

The prospectus also emphasizes the volatility of crypto as one of the risk factors that can influence the profitability of Etoro’s activities, and notes that the “future development and growth of cryptoassets is subject to various factors that are difficult to predict and evaluate, including the volatility of the market price and trade volume.”

Despite the risks, the submission also states that the income from Etoro from Cryptocurrency trade in 2024 grew to $ 12.15 billion, an increase of $ 3,4 billion in 2023 and $ 5.6 billion in 2022.

The total net income for 2024 was $ 192.4 million, in contrast to $ 15.3 million for 2023 and a loss of $ 214.9 million for 2022.

Published by Stacy Elliott.