Shares and Crypto -Trading Platform Etoro filed to sell shares to the public for the first time at Nasdaq, which marked a renewed push for a list after a previous attempt stopped in 2021.

In a prospectus for the initial public offer (IPO), BNEI Brak, Israel-based company, said revenue more than tripled to $ 12.6 billion last year. The lion’s share came from cryptocurrency-related revenue that increased to $ 12.1 billion last year from $ 3.4 billion in 2023.

Founded in 2007 by Yoni and Ronen Assia, ETORO allows users to trade assets, including stocks, crypto and raw materials, and to copy other dealer’s portfolios. The company’s IPO plans were revealed earlier this year through reports of a confidential filing at SEC.

Net income ran to $ 192 million by 2024, up from just $ 15.3 million by 2023 according to data from its recent F-1 archiving. The company seeks to raise $ 300 million – $ 400 million for a valuation of $ 4.5 billion, reported Globes.

It is under the valuation of $ 10.4 billion that it sought in 2021 during a planned merger with a company of special purposes, which was later shelved due to market conditions. The company has submitted to list under the ticker “Etor.”

The offer will be led by major insurance companies, including Goldman Sachs, Jefferies, UBS and Citigroup.

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