eToro Targets $4 Billion Valuation, Calling Itself a 'Pioneer in the Crypto Space'
eToro has initiated its U.S. IPO roadshow, aiming for a valuation of up to $4 billion. The company plans to offer 10 million Class A common shares at a price between $46 and $50, potentially raising $500 million. An additional 1.5 million shares may be purchased by underwriters to cover over-allotments. Major underwriters include Goldman Sachs and UBS. Post-IPO, eToro will have approximately 80.9 million shares, valuing the company between $3.7 billion and $4 billion, possibly rising to $4.12 billion if the over-allotment option is exercised. The firm emphasizes its role in the crypto space, with cryptocurrencies accounting for 37% of trading commissions in early 2025. Revenue from cryptocurrency trading surged to $12.15 billion in 2024, up from $3.4 billion in 2023. eToro reported a net income of $192.4 million for 2024, a significant increase from previous years. The filing acknowledges the volatility of crypto as a risk factor affecting profitability.
