eToro Restarts IPO: Nasdaq Rings the Bell with a Target to Raise $500 Million and a Valuation of $4 Billion

After the failure of the SPAC listing in 2021, online brokerage trading platform eToro once again challenged the NASDAQ with a target valuation of $4 billion. (Synopsis: eToro US users only have BTC, BCH, ETH to trade, pay $1.5 million to settle with the SEC) (Background supplement: eToro US removes ALGO, MANA, DASH, MATIC, 7/12 ban on payment) Following the stillbirth of the SPAC listing plan in 2021, the well-known online investment platform eToro once again sounded the clarion call for listing. The Israeli fintech company, known worldwide for its "copy other investors' trades (social trading)" feature, officially submitted its IPO (IPO) application documents to the US Securities and Exchange Commission (SEC) on May 5, 2025, US time. It plans to be listed on the NASDAQ exchange under the ticker symbol "ETOR". Restart IPO According to eToro's F-1 registration statement, the company is seeking to list on the Nasdaq Global Select Market with the goal of raising $500 million through the IPO, corresponding to a valuation of approximately $4 billion. This is more "pragmatic" than the target valuation of up to US$10.4 billion when the SP (SPAC) merger was attempted in 2021. eToro's IPO expects to issue 10 million shares in a tentative pricing range of $46 to $50 per share. Half of them are newly issued shares of the company, and the other half are sold by existing shareholders. The main underwriters team responsible for the IPO included a number of well-known financial institutions such as Goldman Sachs, Jefferies, UBS Investment Bank and Citigroup. Financial strength eToro chose to restart its IPO at this time, and its financial performance is undoubtedly strong. According to the filings, eToro's total commission revenue in 2024 will be $931 million, up from $639 million in 2023. Net profit jumped from $15.26 million in 2023 to $192.4 million in 2024. EBITDA (EBITDA) also reached $304 million in 2024, up from $117 million in 2023. It is worth noting that large institutional BlackRock is expected to participate in the IPO as an initial investor, planning to buy $100 million in shares. Cryptocurrency regulatory risks eToro's IPO is still facing regulatory compliance challenges. eToro previously suffered a $1.5 million fine in 2023 for operating as an unregistered broker in the United States, which also led to restrictions on cryptocurrency trading in the United States, which is currently limited to trading Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH)。 Current state-level cryptocurrency regulation in the United States, as well as MiCA regulations implemented in Europe, could affect its global operations. Related reports "eToro restarts IPO: Nasdaq rings the bell to raise 500 million yuan, valuation 4 billion magnesium" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".