eToro Limits Crypto Offerings: Key SEC Settlement Details

The company had agreed in September to limit its U.S. crypto offerings to bitcoin, bitcoin cash and ether as part of a settlement with the Securities and Exchange Commission on charges it operated as an unregistered broker and unregistered clearing agency.

eToro had earlier looked to go public through a merger with Betsy Cohen-backed special purpose acquisition company at a $10.4 billion valuation. Those plans fell apart in 2022.

In 2023, eToro raised $250 million in a funding round at a valuation of $3.5 billion.

Asset manager BlackRock (BLK.N), opens new tab has indicated on buying up to $100 million worth of shares in the offering.

Goldman Sachs, Jefferies, UBS and Citigroup are the lead underwriters. The company will list on the Nasdaq under the symbol “ETOR”.