Israeli technology news site Calcalist announced that financial services firm eToro intends to apply for an initial public offering (IPO).
Based on the report, eToro is in discussions with an investment banking firm Goldman Sachs to launch a $5 B worth IPO. The organization aims to carry out the IPO in the second quarter of 2021. eToro runs its own digital asset exchange—named eToroX.
It's worth mentioning that the firm doubled its income to $500 M in 2020. The number of new clients reached 5 million over the year. In addition, the valuation of eToro grew around three times in two years.
Earlier, digital currency trading platform Coinbase submitted a draft registration statement for launching its IPO. These activities are connected with the bullish trends the cryptocurrency markets are having. Never before were institutional investors as attracted to crypto as recently.