The crypto-friendly trading platform, eToro, is said to have ambitious plans to join Coinbase as a public firm as the social trading firm aims to float an initial public offering (IPO) in 2021. Reliable sources reveal that the trading platform has been working closely with the London Stock Exchange’s “Elite” program to prepare for an IPO. One eToro representative said:
“EToro does not comment on market rumours.”
Nonetheless, employees at eToro have shared an article published by an Israel-based media outlet Calcalist that announced the IPO on LinkedIn, notably with the support of CEO Yoni Assia.
The December 29, 2020 article from Calcalist says:
“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.”
This trading platform will reportedly surface after Coinbase recently filed with the United States Securities and Exchange Commission (SEC) to run an IPO in 2021.
Several mainstream financial companies like MicroStrategy have launched a trend of institutional Bitcoin investments. Notably, Coinbase’s move to go public, together with hints at a similar move from eToro, may stimulate widespread crypto adoption. One digital-asset brokerage platform, Voyager, also went public in Canada earlier in 2020.
