eToro is gearing up for a significant move as it eyes a listing on the US stock market, despite the majority of its revenue stemming from the UK market. With ambitions soaring high, eToro aims to achieve a valuation surpassing $3.5 billion.

While the UK and Europe have traditionally been eToro’s strongholds, accounting for nearly 70% of its revenue, CEO Yoni Assia sees immense potential in tapping into the lucrative US stock markets. Assia noted that US stocks are particularly favored by retail investors in the UK and Germany, further solidifying the attractiveness of a US listing.

eToro Sets Sights on US Listing, Eyeing Valuation Exceeding $3.5 Billion

Although the platform’s European dominance may hint at a potential IPO on the London exchange, eToro’sinclination towards a US debut aligns with a broader trend seen across Europe. Companies like Aspen, Marex, and Flutter have either opted for IPOs on the New York Stock Exchange or made the switch from the London Stock Exchange, signaling a growing appetite for bigger valuations and increased capital in the US market.

Assia is strategically timing the market debut with an eye on the $3.5 billion valuation set in the platform’s last funding round. However, eToro remains undecided on whether to allow its clients to participate in IPO investing, a feature popularized by platforms like Robinhood and Reddit.

Reflecting on a past setback, namely the abandoned SPAC merger that valued eToro at $10 billion, Assia views it as a valuable learning experience. Despite facing various challenges along the way, the multi-asset broker successfully secured a $250 million investment in March 2023, with a valuation of $3.5 billion from notable investors such as the ION Group and SoftBank Vision Fund 2.

eToro’s ambitious move towards a US listing signifies its commitment to further expansion and innovation in the global trading landscape, as it aims to capture the attention of investors on both sides of the Atlantic.

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