eToro Reportedly to Merge with SPACs for $10B Public Listing

eToro, an online global investment platform, will reportedly realize the company's long-term goal of going public by merging with SPACs. The public listing will put a $10 billion valuation on the Israel trading firm.

eToro has eyed a public listing for a long period of time. At the end of last year, the brokerage was reportedly in talks with Goldman Sachs for IPO at a valuation of $5 billion. According to a local news agency, the company is now getting close to the end of the merger with an SPAC listed in the US.

Under the leadership of cofounders, also two brothers, Yoni Assia and Ronen Assia, eToro​ safely navigated periods of extreme market turbulence. Despite occasionally facing challenges arising from platform issues as demand from retail investors surged, the online trading company recently saw its total number of traders jumping to 20 million.