eToro to Go Public Via Merger With SPAC; Combined Firm to Have $10.4B Value - CoinDesk

Trading platform eToro said Tuesday it will become publicly traded via a merger with a special purpose acquisition company (SPAC).

• Through a merger with FinTech Acquisition Corp. V, the combined entity will have a implied equity value of about $10.4 billion.
• The combined company will operate as eToro Group Ltd. and be listed on the Nasdaq.
• FinTech Acquisition Corp. V is led by Betsy Cohen, who has been involved with several other SPACs, including one that took Perella Weinberg public, according to an earlier report by Bloomberg.
• The eagerly awaited publicly listing of Coinbase, which may reach a valuation of $100 billion, has been expected to ignite a wave of crypto firms to go public, many of them using SPACs. 
• Bakkt, the cryptocurrency exchange launched by  Intercontinental Exchange (ICE) in 2018, is also expected to carry out a SPAC merger later this year, valuing the combined entity at $2.1 billion

This story is developing and will be updated.