Buckle Up! eToro's U.S. IPO Set to Explode Next Week

Hang onto your hats, folks! eToro Group Ltd. is gearing up to launch its long-awaited U.S. initial public offering as soon as next week, sources spilled to Bloomberg. This is gonna be huge!

The Israel-based trading platform had to hit the brakes on its IPO plans back in early April when market chaos erupted thanks to former President Donald Trump's tariff announcements. Talk about a wild ride! But now, eToro's back in the driver's seat and ready to hit the gas.

They filed with the SEC in late March, but the "Liberation Day" craziness forced eToro to pump the brakes on the offering. Now, with the market calming down and platforms like Robinhood soaring over 16% in the past month, eToro's itching to make its public debut. It's go time, baby!

Founded back in 2007, eToro's not just about stocks and crypto - they let users copy the moves of top investors' portfolios. And get this: they tried to go public through a SPAC with a whopping $10.4 billion valuation before.

Their 2024 financials are looking fire, with $931 million in commissions and $192 million in net income. That's a major comeback from $639 million and $15.3 million in 2023. Cha-ching!

'ETOR'

Goldman Sachs, Jefferies, UBS, and Citigroup are leading the charge on this IPO. Shares will be zooming around on the Nasdaq under the ticker "ETOR." Get ready to buy in!

eToro's listing is gonna be one of the first IPOs to come back to life after the Trump-induced IPO freeze. And just recently, they settled some SEC allegations about unlicensed brokerage ops, agreeing to pay $1.5 million and put some limits on their U.S. crypto offerings. But that ain't stopping them!

Despite the regulatory heat, the crypto vibe is getting better, with Bitcoin cruising above $100,000 and hopes for a more chill SEC under Trump's incoming crew.

eToro's aiming for a valuation higher than the $3.5 billion they hit in their 2023 funding round, with SoftBank Vision Fund 2 and ION Group backing them up. But hey, the final IPO call could still swerve based on how the market's feeling. Stay tuned, because this is gonna be one hell of a ride!