Forex broker eToro Prepares for IPO, Awaits SEC Approval
The $5 billion eToro IPO is delayed as it undergoes SEC review. Initially set for early 2025, the offering is now anticipated to be completed in Q2 2025.
As of February 12, 2025, the eToro forex broker's plan to go public has hit a snag as the U.S. Securities and Exchange Commission (SEC) continues to review the company's IPO application.
As a result, the eToro forex broker has not finalized details regarding the number of shares to be offered or the expected price range. The IPO, which was initially anticipated for early 2025, is now projected to be completed in the second quarter, with an estimated company valuation of over $5 billion.
This is not the first attempt by the social trading broker to go public. In 2021, eToro planned to merge with a special purpose acquisition company (SPAC) in a deal worth $10.4 billion. However, due to the overall decline of SPACs in the market, the deal was abandoned in 2022.
Despite this setback, eToro continues to expand. In March 2023, the company raised $250 million, bringing its valuation to $3.5 billion. Later that year, in September, eToro further strengthened its market position by acquiring the Australian investment app Spaceship for $55 million.
Backed by investors like ION Group, SoftBank's Vision Fund 2, and Velvet Sea Ventures, eToro is positioning itself to capitalize on the growing retail interest in cryptocurrencies. The recent surge in Bitcoin prices has sparked enthusiasm for crypto trading, creating favorable market conditions for the broker's IPO ambitions.
Stay tuned for the latest forex broker news as eToro gets closer to its public debut!