To The Moon

eToro has submitted its initial public offering (IPO) documents to the U.S. Securities and Exchange Commission (SEC), planning to go public on the $NASDAQ(.IXIC)$ with a target valuation of $4.5 billion. The IPO is expected to raise between $300 million and $400 million, led by major financial institutions including $Goldman Sachs(GS)$ , $Jefferies Financial Group Inc.(JEF)$ , $UBS Group AG(UBS)$ , and $Citigroup(C)$ .

eToro German Trading Account – ETFs, Crypto, Stocks

Founded in 2007, eToro is a multi-asset trading platform headquartered in Israel, allowing users to trade assets such as stocks, cryptocurrencies, and commodities. The company's revenue exceeded $12.6 billion in 2024, with 96% coming from cryptocurrency trading. Its net income for 2024 was $192 million, a significant increase from $15.3 million in 2023.

As of December 31, 2024, eToro had approximately 3.5 million funded accounts across the 75 countries where it operates. By March 2025, the platform had over 38 million registered users in those 75 countries and regions.

This IPO is eToro's second attempt to enter the U.S. public market. In 2021, the company had planned to go public through a merger with a special purpose acquisition company (SPAC), but the plan was canceled due to unfavorable market conditions. If successful, the IPO could see eToro listed in the second quarter of 2025.

The listing would have positive implications for eToro, the cryptocurrency industry, and investors in the field:

• For eToro itself, increased visibility and recognition would lead to greater financial resources, enabling the company to undertake more initiatives. As a publicly traded company, eToro would likely operate with more standardized management, inspiring greater confidence among users. This could also boost employee morale and attract top talent.

• For the industry as a whole, eToro's listing would be akin to labeling the cryptocurrency sector as a "regular army." As a regulated cryptocurrency trading platform, eToro would operate under strict standards, setting a benchmark for the industry and fostering greater confidence and optimism.

• For investors, the ability to purchase eToro's stock would present a new opportunity for profit, reinforcing confidence among cryptocurrency investors.

In which regions and countries is eToro popular?

Europe

United Kingdom: eToro has a large user base in the UK and is regulated by the Financial Conduct Authority (FCA). It has performed exceptionally well in the UK market, winning several awards, such as being named the "Best Online Broker in the UK" by Forbes Advisor in 2024.

Cyprus: eToro has a subsidiary in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC). Cyprus is one of its key operational bases and a region with a concentrated user base.

Other European countries: eToro also has a broad user base in other European countries, such as Germany, France, and Italy. Its overall market share in Europe is close to 70%.

Asia-Pacific Region

Australia: eToro has a significant number of users in Australia and is regulated by the Australian Securities and Investments Commission (ASIC). It has performed well in the Australian market, winning several awards from Finder, such as the "Cryptocurrency Exchange Customer Satisfaction Award" in 2024.

China: eToro has established strategic partnerships with institutions like Ping An of China. Although its operations in mainland China are somewhat restricted, it still has a user base among overseas Chinese communities.

Other Asia-Pacific countries: eToro also has users in other countries and regions in the Asia-Pacific area, such as Malaysia, Indonesia, and Thailand.

United States

eToro officially entered the U.S. market in 2018 and obtained membership with the Financial Industry Regulatory Authority (FINRA) in 2020. Its user base in the U.S. has been growing, especially in the field of cryptocurrency trading.

South America and the Middle East

eToro also has a user base in South America and the Middle East, with a wide coverage of business to meet the needs of users in different regions.

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