eToro Plans Nasdaq Debut as IPO Market Recovers from Trump Tariff Shock

Highlights:

• eToro is set to launch a US IPO as early as next week.
• In 2024, the firm posted $931M in commission revenue.
• Crypto-friendly sentiment fuels listing momentum post-SEC settlement.

eToro is gearing up to launch its long-delayed US IPO as early as next week. The trading platform paused this move earlier because of market volatility brought on by Trump’s April 2 tariff announcements, as per Bloomberg’s report. The tariffs led to the halting of several public listings across sectors due to the turbulence. Stabilizing conditions and renewed investor confidence have brought eToro back to the table now.

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The firm, based in Israel, had filed with the SEC in late March. The IPO will provide the return of IPO activity following what analysts call the “Liberation Day” freeze. eToro has yet to finalize the date of the launch, but sources say it could happen if market momentum continues. The company will list on Nasdaq under the ticker “ETOR,” the firm said.

EToro is considering launching its US IPO as soon as next week, after pausing its listing plans amid tariff-related volatility. https://t.co/ZpHDQiecee

— Bloomberg (@business) May 2, 2025

The company’s IPO ambition has been supported by strong earnings and rising demand. eToro reported a total of $931 million in commissions in 2024. That is a significant rise from $639 million in 2023. Net income also soared to $192 million from $15.3 million a year earlier.

Market Trends and Regulatory Context

Shares of Robinhood, which provides similar trading services, jumped over 15% in the past month. eToro’s listing also receives some pressure and encouragement from this rally. As far as Bitcoin trades near its all-time high, the broader crypto sentiment has become positive. Institutional support and retail investor interest have picked up in the trend.

Additionally, eToro settled an SEC case related to offering unlicensed brokerage activity. As a result, the company paid a $1.5 million penalty and adjusted its US crypto offerings. This clears a major hurdle ahead of its planned IPO. At the same time, the pro-crypto leadership that the SEC now has made favorable conditions for similar firms.

Additionally, other major crypto and fintech companies like Circle and Kraken plan IPOs. Overall, these parallel efforts signify a broader reopening of the IPO window for high growth fintech. eToro will be key beneficiary in terms of timing and what will likely be growing demand for crypto enabled trading platforms.

After completing a funding round in 2023, the firm was valued at $3.5 billion. SoftBank Vision Fund 2 and ION Group were among the key investors in the round. eToro is now pegging its valuation above that benchmark. Analysts see a strong revenue rebound and favorable market conditions as key drivers of investor interest.

IPO Plans and Future Outlook

Earlier, eToro also tried to go public through a SPAC merger at a $10.4 billion valuation. However, that plan fell apart due to tight regulatory and market concerns. The IPO is the first move to a traditional listing backed by Goldman Sachs, Jefferies, UBS, and Citigroup.

Sources say the company could adjust its timeline if volatility returns. But the firm is keeping its eyes on a Q2 2025 debut. Its shares will trade on the Nasdaq Global Select Market, and eToro will be one of the first post-tariff IPOs to go public.

The company’s platform enables users to trade stocks, ETFs and digital assets. Additionally, it has portfolio mirroring features that make it appealing to both new and experienced investors. These offerings remain critical to global user growth and the surge in the company’s revenue.

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