EToro, an investment trading platform based in Israel, has revived its initiative to go public in the United States. The company had previously paused this process earlier in the year due to market volatility following tariff announcements by President Trump.
According to a regulatory filing on Monday, eToro, which allows trading in both stocks and cryptocurrencies, intends to raise $500 million through an initial public offering (IPO), potentially valuing the company at up to $4 billion.
The filing states that the company, along with some of its shareholders, aims to offer a total of 10 million shares, with an anticipated share price ranging from $46 to $50. EToro is set to offer 5 million shares, while additional shares will be offered by certain shareholders, including venture capital firms Spark Capital and BTM Group.
Wealth manager BlackRock has shown interest in acquiring up to $100 million worth of shares at the IPO price, as indicated in the filing.
EToro is proceeding with its U.S. IPO after initially filing in March. The company had halted its plans following Trump’s announcement of significant tariffs on nearly all U.S. trading partners on April 2, which unsettled the global economy. This led to a 12% decline in the S&P 500 and an 11% drop in the Dow Jones Industrial Average, as investors withdrew from U.S. markets.
EToro was not alone in postponing its public offering plans; other companies, such as fintech firm Klarna and ticket platform StubHub, also delayed their IPOs amid economic uncertainty, according to Bloomberg.
President Trump has since implemented a 90-day pause on the tariffs, with ongoing trade negotiations with foreign countries. As the macroeconomic situation stabilizes, eToro has resumed the IPO process. The SEC still needs to review and approve eToro’s filing before the public offering can proceed, but the pricing could occur as soon as next week, according to Bloomberg.
Founded in 2007, eToro provides a platform for trading various assets, including cryptocurrencies, similar to U.S.-based platform Robinhood. The company reported a total revenue of $12.6 billion in 2024, up from $3.89 billion in 2023, as per the filing.
In 2023, eToro was valued at $3.5 billion during a $250 million funding round led by ION Group and SoftBank Investment Advisers.
EToro plans to list on the Nasdaq under the ticker symbol ETOR.
This information was originally published on Fortune.com.
