eToro eyes U.S. IPO with Goldman Sachs support: report

eToro, a trading platform for stocks and cryptocurrencies, is working with Goldman Sachs to plan an initial public offering in the United States.

According to Bloomberg, the company may go public as early as the second quarter of 2025, but the timing may change, according to anonymous sources on the subject.

eToro hopes to exceed the $3.5 billion valuation it achieved in a private financing round last year. Details regarding the IPO, including other banks that may be involved, are still being discussed.

SEC and eToro

The platform has faced regulatory issues in the US and settled allegations that it operated as an unregistered broker in September. As part of the settlement, eToro agreed to pay $1.5 million and restrict cryptocurrency offerings to U.S. customers.

The SEC’s complaint alleged that eToro had been operating as an unlicensed broker and clearing house since at least 2020.

The IPO comes at a time when interest in cryptocurrencies is surging, driven in part by President-elect Donald Trump’s decision to appoint a crypto-friendly businessman to lead the U.S. Securities and Exchange Commission.

This shift could pave the way for more crypto-focused companies to go public. Bitcoin (BTC) prices have surged above $100,000 as a reflection of this renewed enthusiasm.

eToro’s platform allows users to trade a variety of assets, including cryptocurrencies, and track the trades of successful traders. It has more than 38 million registered users worldwide.