EToro Eyes Bigger Acquisitions As It Seeks To Expand Into New Asset Classes And Geographies

EToro Group is preparing for larger acquisitions as it looks to expand its platform across new asset classes and geographies, according to Bloomberg. EToro co-founder Ronen Assia said at the Ambrosetti Forum in Cernobbio that the company is open to pursuing mergers and acquisitions. The Israel-based trading company, which raised $620 million in its IPO in May, reported cash and equivalents of about $1.2 billion as of June 30, with no debt. EToro has completed a series of acquisitions since 2020, including fintech firms Gatsby and Spaceship this year. Assia noted that unlike rivals such as Crypto.com, EToro has no plans to enter the prediction markets space, calling them unsuitable as long-term investment tools. The firm also announced plans earlier this year to expand futures offerings in partnership with CME Group.