eToro’s ambition is to join Coinbase as a public company, as the social trading platform plans an IPO in 2021.
The eToro trading platform could go public in 2021. Sources told Cointelegraph that eToro has been working with the London Stock Exchange’s „Elite“ programme to prepare for an initial public offering.
„eToro does not comment on market rumours,“ an eToro representative told Cointelegraph.
Coinbase IPO Approaching, According to SEC Draft
However, eToro employees have shared an article from Israel-based media Calcalist announcing the IPO on LinkedIn, apparently with the blessing of CEO Yoni Assia.
eToro „aims for an IPO in Q2 2021 after doubling Crypto Engine its revenue to $500 million and gaining five million new customers by 2020,“ says Tuesday’s Calcalist article. „The company is in talks with investment bank Goldman Sachs to lead the IPO,“ Calcalist added.
3 reasons why MicroStrategy adopted Bitcoin and why others will do so
Coinbase recently filed with the US Securities and Exchange Commission to implement an initial public offering in 2021.
Several conventional financial institutions, such as MicroStrategy, have begun a trend of institutional investment in Bitcoin. Coinbase’s move to go public, along with signs of a similar move by eToro, could stimulate further adoption of cryptomonies. Voyager, a digital asset brokerage platform, was also made public in Canada earlier this year.
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