eToro Plans $5 Billion US IPO for Retail Trading Platform

Retail trading platform eToro is reportedly readying to go public in the U.S.

The company has submitted confidential filings to the Securities and Exchange Commission (SEC) for an initial public offering (IPO) in hopes of valuing eToro at $5 billion, the Financial Times (FT) reported Thursday (Jan. 16), citing sources familiar with the matter.

eToro could list in New York as soon as the second quarter of the year, one of the sources said. A spokesperson for the company told PYMNTS eToro would not comment on “IPO rumors.”

The FT report noted that eToro — whose largest market is in Great Britain — has become the latest startup to avoid going public in London, whose stock exchange has struggled in recent years to draw high-profile IPOs.

eToro founder and CEO Yoni Assia told the FT last year that listing in New York would give the company access to a broader range of investors than if it did so in London.

“Very few of our global clients would trade U.K. shares,” Assia said. “Something in the U.S. market creates a pool of both deep liquidity and deep awareness for those assets that are trading in the U.S.”

Founded in 2007, eToro lets customers trade stocks, crypto and other assets. As the FT pointed out, its listing plans are happening as other companies are choosing to remain private longer, much to the chagrin of investors and bankers for big IPOs.

However, recent weeks and months have seen renewed enthusiasm that 2025 will bring about an IPO revival, one brought on by the election of the pro-business/softer-on-regulation Donald Trump to the U.S. presidency.

Aside from eToro, other companies that could list this year include buy now, pay later (BNPL) firm Klarna, and artificial intelligence (AI) cloud company CoreWeave, and FinTech Chime.

“Momentum may be on the side of FinTechs in the current year,” PYMNTS wrote last month. “First there’s the momentum of the overall markets, which may be readying for the incoming presidential administration, which some investors and executives expect to be arguably ‘business friendly’ in terms of regulations, crypto and taxes (which, of course, impact profits, and profits in turn impact valuations).”