EToro, the Israel-based investment trading platform, has resumed its plan to go public in the U.S. after the company halted the process earlier this year amid market volatility following President Trump’s tariff announcement.
EToro, which lets customers trade both stocks and crypto, plans to raise $500 million in an initial public offering (IPO) that would value the company at as much as $4 billion, according to a regulatory filing from Monday.
The company and some of its shareholders plan to offer a total of 10 million shares with an expected price per share of $46 to $50, according to the filing. EToro will offer 5 million shares and some of its shareholders, including venture capital firms Spark Capital and BTM Group, will offer an additional 5 million shares.
Funds and accounts managed by wealth manager BlackRock have expressed interest in purchasing up to $100 million worth of shares at the IPO price, the filing says.
EToro is moving ahead with its U.S. IPO after initially filing to go public in March. The company paused those plans after Trump on April 2 announced hefty tariffs on nearly all U.S. trading partners. The trade war threw the global economy into disarray, causing the S&P 500 to fall 12% and the Dow Jones Industrial Average to fall 11% within a few days as investors fled U.S. markets.
EToro wasn’t the only company that halted plans to go public in the U.S. as financial markets reeled from the tariff news. Fintech company Klarna and ticket platform StubHub also delayed their IPOs amid the economic uncertainty, according to Bloomberg.
Since then, Trump has put a 90-day pause on his tariffs and trade negotiations with foreign countries are said to be ongoing. As the macroeconomic backdrop settles, eToro has resumed the initial public offering process. The SEC still needs to review and approve eToro’s filing before the company can go public, but the deal could be priced as soon as next week, according to Bloomberg.
EToro, founded in 2007, offers a platform for customers to trade assets, including crypto, similar to U.S-based trading platform Robinhood. EToro reported total revenue of $12.6 billion in 2024 compared to just $3.89 billion in 2023, the filing shows.
In 2023, eToro was valued at $3.5 billion in a $250 million funding round led by ION Group and SoftBank Investment Advisers.
The company plans to list on the Nasdaq under the ticker ETOR.
