Will crypto-friendly trading platform eToro launch an IPO in 2021?

eToro would join Coinbase in the shortlist of companies planning a listing on regulated markets in 2021

Trading platform eToro could go public in 2021. Sources have told Cointelegraph that the company is working with the London Stock Exchange’s „Elite“ program to prepare for an IPO. Cointelegraph contacted a company representative to get more information, who simply replied, „eToro does not comment on market rumours.“

However, eToro employees shared on LinkedIn an article from the Israeli news agency Calcalist announcing the IPO, apparently with the approval of CEO Yoni Assia.

The Calcalist article states:

„The company 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.“

Coinbase recently filed preliminary documents with the US Securities and Exchange Commission to launch an IPO, scheduled for 2021.

Several mainstream financial companies, such as MicroStrategy, have started a trend of institutional investment in Bitcoin. Coinbase’s decision to list on regulated markets, as eToro seems to want to do, could spur further growth in cryptocurrency adoption. Voyager, a brokerage platform for digital assets, has decided to enter the Canadian market in February 2019.