The cryptocurrency platform filed for an initial public (IPO) offering in the United States following several previous attempts.
The company said in an announcement of March 24 that it submitted a registration statement on Form F-1 with the US Securities and Exchange Commission related to the IPO of Class A its common share.
ETORO applied to list Class A Commonly sharing with the NASDAQ Global Select Market under the ticker symbol “ETOR,” according to the announcement, who said:
“A registration statement on Form F-1 related to these security has been filed with the SEC but has not been effective.”
ETORO PUBLIC IPO announcement. Source: Ethoro
Public filing comes within two months after Ethoro has made confidential SECflows with a move on a move toward a potential IPO in New York, The Financial Times reported Ay Jan. 16.
Submitted in January, ETORO’s IPO filing could appreciate the business for more than $ 5 billion and list the platform once the second quarter of 2025, the report noted, citing anonymous resources familiar with this matter.
Trade platforms like ethoro are often used by investors looking to buy their first stock or cryptocurrency sharing, thanks to their ease of use.
ETORO’s IPO has received attention from some of the most known investment banks around the world, including Goldman Sachs, Jefferies, UBS and Citigroup, as the leading managing bookmakers.
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Ethoro tried to go public in 2021 by offering a spac
The crypto-friendly trade platform has many past attempts to go public with the US stock exchange.
In 2021, Ethoro announced plans to go public through a integration with the Fintech Acquisition Corp V, a special objective acquisition company, appreciating the company for $ 10.4 billion. However, the deal ended in mid-2022 due to undesirable market conditions.
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Although the United Kingdom remains its largest market, ETORO is chasing a US list to tap on a broader investor base.
“Very few of our global clients will exchange UK shares,” Ethoro and CEO Yoni Assia founders were reported to be said last year. He added:
“One thing in the US market creates a pool of both deep liquidity and deep awareness for the US traders.”
In 2023, Ethoro raised $ 250 million in a funding of the broker at $ 3.5 billion. The business can now appreciate more than $ 5 billion in the upcoming IPO, one of the people who is familiar with flotation plans said.
According to In Forbes, Ethoro is one of the first regulated trading platforms in Europe to offer bitcoin (Btc) Services in 2013, just a few years after the BTC’s first transaction was made in January 2009.
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