:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2201127886-bc19b94b233345aab179e8d1d8f62827.jpg "EToro logo on a smartphone screen")
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Key Takeaways
- Etoro, an online trading platform, has filed to go public in the U.S.
- The Israeli company explained its commissions jumped 46% in 2024, driven in part by an increasing share of cryptocurrency trades.
- The initial public sacrifice filing comes with cryptocurrency in the spotlight, particularly after President Trump ordered the creation of a U.S. strategic bitcoin reservoir.
Online retail trading platform eToro filed late Monday for an initial public offering in the U.S., disclosing commissions surged carry on year amid rising demand for crypto markets.
The Israel-based company posted commissions of $931 million in 2024 on net gains of $192 million, up from $639 million in commissions on net income of $15 million the year before, according to a regulatory document Monday. A big reason for that is an increase in crypto assets trading, which made up 38% of eToro’s commissions in 2024, numerous than doubling from 17% in 2023.
The IPO filing comes as cryptocurrencies, particularly bitcoin, have been in the spotlight. President Donald Trump earlier this month signaled the launch of a U.S. strategic bitcoin reserve and previously said he wants to make the U.S. the “crypto capital of the planet.”
Monday’s submitting is not eToro’s first attempt at going public. The company announced in 2021 that it planned to merge with a exclusive purpose acquisition company in a deal that would have valued the company at $10.4 billion, but the transaction was done abandoned more than a year later.