eToro, the trading platform, has said that it could go public in 2021, as it has been working with the London Stock Exchange’s “Elite” program to prepare for an initial public offering.
An eToro representative said:
“EToro does not comment on market rumours.”
It has been reported that employees at eToro have shared an article from Israel-based media outlet Calcalist announcing the IPO on LinkedIn, apparently with the blessing of CEO Yoni Assia.
However, the article from Calcalist stated:
“eToro is targeting an IPO in the second quarter of 2021 after doubling its revenue to $500 million and gaining five million new customers in 2020.”
“The company is currently in talks with investment bank Goldman Sachs regarding leading the IPO.”
Likewise, Coinbase recently filed with the United States Securities and Exchange Commission (SEC) to run an initial public offering in 2021.
Social trading platform eToro is reportedly planning an IPO worth up to $5 billion. https://t.co/qNUqArgdLk — Cointelegraph (@Cointelegraph) December 29, 2020
A number of mainstream financial entities, such as MicroStrategy, have started a trend of institutional Bitcoin investments. Coinbase’s move to go public, along with hints at a similar move from eToro, could stimulate further adoption of cryptocurrency.
Thus, Voyager, a digital-asset brokerage platform, also went public in Canada earlier this year.