eToro Group Ltd. is set to proceed with its long-awaited U.S. initial public offering (IPO) as soon as next week, according to people familiar with the matter.
The Israel based trading and investment platform halted its listing plans in early April after President Donald Trump’s shock tariffs announcements sent markets into a roller coaster slide.
eToro, which was founded in 2007, provides users with access to stocks, cryptocurrencies and other assets, including a social investing feature that lets users track top investors.
The last time out, the company tried to go public through a SPAC merger at a valuation of $10.4 billion, but it pulled back.
The company initially submitted its IPO paperwork with the U.S. Securities and Exchange Commission in late March.
No final decision has been made, and there could still be a delay, but EToro’s listing would be one of the first offerings to get back on track following the so-called “Liberation Day” tariff shock that froze equity markets and I.P.O. action, reported Bloomberg.
The VIX Index spiked during that time, prompting certain companies to halt or delay their offerings.
eToro, which made $931 million in commissions in 2024 with a net income of $192 million, up significantly from $15.3 million a year earlier, said in its I.P.O. filing that its business was growing at a rapid clip.
Goldman Sachs, Jefferies, UBS and Citigroup are leading the I.P.O. eToro intends to list on the Nasdaq Global Select Market under the symbol ETOR. Major investors include the SoftBank Vision Fund 2, ION Group and Spark Capital, among others.
eToro declined to provide an update regarding the offering’s timing.
