Crypto and stock trading platform eToro made a strong entrance on the Nasdaq, with shares (ETOR) closing 28.9% higher at $67 on May 14 following an upsized initial public offering. The stock hit an intraday high of $74.26, valuing the company at over $5.5 billion.
The Israeli-founded firm raised $620 million after pricing shares at $52 — above its expected $46–$50 range — and selling nearly 12 million shares, including those from existing shareholders. BlackRock-managed funds were among the key IPO backers, signaling interest in up to $100 million worth of shares.
eToro’s listing marks a return of confidence to U.S. IPO markets after recent volatility linked to President Trump’s tariff announcements derailed several deals. The firm’s IPO had been delayed in April, but momentum returned amid rising investor interest in the retail trading sector.
“Retail investing is not a fad, but a long-term trend,” said Robert Francis, managing director of eToro Australia, in a statement to Cointelegraph.
The IPO was led by Goldman Sachs, Jefferies, UBS, and Citigroup. Meanwhile, eToro’s rival Robinhood (HOOD) dipped 1.9% on the day.
Founded in 2007, eToro originally aimed to go public via SPAC in 2021 but scrapped those plans amid market turmoil. With 2024 crypto revenues surging to $12.1 billion, up from $3.4 billion in 2023, eToro now sees crypto contributing around 37% of trading commissions in Q1 2025.