Source: Matthew SigelIn a section of its filing listing possible risks to the business, eToro warned its users could leave, or it could struggle to get more users, due to negative perceptions of the cryptocurrencies it lists, “either as a result of media coverage or by experiencing significant losses.”Other crypto-related risks the eToro flagged included US state-level crypto regulation, which it said “may place strain on our resources and make it difficult to operate in certain jurisdictions, if at all.”It also said it expects “to continue to incur significant costs” due to the European Union’s Markets in Crypto-Assets (MiCA) laws “on an ongoing basis.”IPOs ready to push after Trump tariff jolt EToro initially made confidential filings with the SEC in January for a public offering, before publicly announcing the plans on March 24.
The company offers stock and crypto trading targeting retail and plans to list on the tech-heavy Nasdaq Global Select Market under the ticker “ETOR.”It's slated to compete with Robinhood Markets Inc.(HOOD), which saw crypto trading dip in the first quarter but whose shares have climbed by nearly 30% so far this year, according to Google Finance.
A filing with the US Securities and Exchange Commission shows eToro is offering 5 million shares, with a further 5 million being put up by the likes of the company’s co-founder and CEO, Yoni Assia; his brother and executive director, Ronen Assia; along with venture firms Spark Capital, BRM Group and Andalusian Private Capital, among others.
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Author / Journalist: Cointelegraph by Jesse Coghlan
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