Background Information: Israeli company eToro plans to conduct an initial public offering (IPO) on the New York Stock Exchange, targeting to raise 500 million USD with a valuation of 4 billion USD. The offering includes 10 million shares of Class A common stock, priced between 46 to 50 USD per share. eToro will provide half of the shares, with the other half offered by existing shareholders. Underwriters include Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup. The company intends to list on the Nasdaq Global Select Market under the ticker symbol "ETOR".

Key Events: eToro secretly submitted its IPO application in January, aiming to raise funds through this listing. Previously, eToro attempted to go public via a merger with the special purpose acquisition company FinTech Acquisition Corp. V, with a valuation of 10.40 billion USD, but did not receive approval from the U.S. Securities and Exchange Commission (SEC). The registration statement for the current IPO has been submitted to the SEC but is not yet effective.

Potential Impact: If successful, this IPO would make eToro one of the few cryptocurrency-related companies to successfully list in the U.S., following Coinbase and some Bitcoin miners. Blackstone Group has expressed interest in investing 100 million USD. Market interest in cryptocurrency company IPOs remains, although some companies have adjusted their listing plans due to policy and market environment changes. No information related to SoSoValue is mentioned.

Israeli-based eToro unveiled details for its upcoming New York IPO, aiming to raise up to $500 million and achieve a $4 billion valuation. The allotment comprises 10 million Class A common shares, priced between $46 and $50 per share. eToro will provide half of the offering, with the other five million shares tabled by existing stockholders, according to a Monday announcement.The platform will also allow underwriters to buy an additional 1.5 million shares within 30 days to cover any over-allotments. Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup lead the underwriting, with additional support from Deutsche Bank Securities, Cantor, and BofA Securities.The social stock and crypto trading hub applied to list its shares on the Nasdaq Global Select Market under the ticker symbol "ETOR."According to Reuters, $10 trillion asset management behemoth BlackRock already signaled interest in $100 million worth of ETOR stock. eToroconfidentially filed its IPO in January to finalize its strategy privately.“A registration statement on Form F-1 relating to the proposed offering of these securities has been filed with the SEC but has not yet become effective,” per the May 5 statement. “These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.”The company's New York flotation follows a previously attempted Special Purpose Acquisition Company merger with FinTech Acquisition Corp. V in 2022. The deal to go public would have valued eToro at $10.4 billion but failed to secure approval from the Securities and Exchange Commission.So far, Coinbase and several Bitcoin miners are the only crypto-affiliated companies that have successfully launched IPOs in the United States. Stablecoin issuer Circle also planned to list shares on U.S. stock exchanges in late April after it filed a prospectus with the SEC. However, the firm has not disclosed an update on its plans as some entities reconsidered IPOs in the wake of President Trump’s tariffs.

eToro plans a New York IPO with a target valuation of 4 billion USD and intends to raise 500 million USD.