eToro submits IPO application, aiming to raise $300-400 million at a valuation of $4.5 billion

ChainCatcher news, online brokerage eToro for cryptocurrency and stock trading has submitted an IPO application to the SEC, aiming to raise $300-400 million at a valuation of $4.5 billion, driven by a surge in revenue in 2024 due to cryptocurrency.

According to eToro's IPO prospectus, its revenue has more than doubled since last year, reaching $12.6 billion. Most of the revenue comes from cryptocurrency-related income, which increased from $3.4 billion in 2023 to $12.1 billion last year.