eToro, an online brokerage that offers cryptocurrency and stock trading, is working with Goldman Sachs Group to prepare for an initial public offering in the United States, according to people familiar with the matter. eToro is considering an initial public offering as early as the second quarter, although that timeline could change. The company said its listing valuation could be higher than the $3.50 billion it achieved in a private fundraising last year. Details such as the timing of the offering could change, and more banks could join the list, the people said. Previously, eToro had tried to go public at a $10.40 billion valuation by merging with a special purpose acquisition firm led by serial trader Betsy Cohen. The two sides agreed to terminate the deal in 2022.