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Etoro has filed a filing with the SEC regarding the proposed US IPO. The social trading platform is valued at $5 billion per filing. The company has previously made public via SPAC.
Etoro, a fee-free social trading platform, is set to enter the US stock market through an initial offer (IPO).
According to the Financial Times, the Israel-based company has already filed confidential filings with the Securities and Exchange Commission (SEC). The move could lead to an IPO valuing the company at over $5 billion. This bold plan shows Etro’s growth and highlights the changing trends in global financial markets.
Etro breaks out of London’s market
ETORO, founded in 2007, allows users to trade arrays of assets, such as stocks and digital assets. As of March 2023, the platform now manages $11.3 billion in customer assets on 3 million accounts. The tool makes transactions simple and engaging and attracts users from all over the world.
Etoro’s biggest market is in the UK, but the company has decided to list its stocks in New York. In a statement, CEO Yoni Assia explained that the US is offering better opportunities to attract global investors and ensure strong trading activities.
He pointed out that the US market generates more awareness and provides deeper liquidity than the UK. Etoro has shifted its focus to the US for its IPO, but companies like MoonPay have doubled in London as a hub for business operations.
This contrast shows how the financial environment is changing. Companies make strategic decisions based on specific goals and the opportunities offered by each market.
From the collapse of SPAC to promising comebacks
This is not the first attempt by Etoro to publish it. In 2021, the company attempted to make public with a special purpose acquisition company (SPAC) through a $10.4 billion transaction. However, in 2022, the plan was not realized due to disadvantaged market conditions and low interest in SPAC trading.
Despite this set, Etro bouncing off. In 2023, we raised funds at a $3.5 billion valuation with support from major investors such as SoftBank and Aeon Group. Financial heavyweights such as Goldman Sachs, Jefferies and UBS are helping with this process.
This laid the foundation for new IPO ambitions. By submitting a secret to the SEC, Etoro can work carefully with the IPO and share details close to the launch. If all plans go well, the IPO could occur as early as the second quarter of this year.
Etoro’s movement is due to the US IPO market being set to be strong in 2025. In 2024, 146 companies were released, increasing by more than 50% since 2023.
Sectors such as industry, technology and consumer products lead this trend. As this ambitious step is taking, Etro is hoping to solidify its position as a leader in the retail trading field. See how you navigate the challenges and opportunities of being exposed in a competitive global landscape with all your eyes on the platform.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who writes about real-life applications of blockchain technology and innovation, promoting general acceptance and global integration of emerging technologies worldwide. His desire to educate people about cryptocurrency inspires his contributions to well-known blockchain media and sites.
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