Crypto and stock trading platform eToro made a strong debut on the Nasdaq, closing its first day of trading up 28.9% after a last-minute increase to its initial public offering (IPO). The platform, which has rapidly expanded its user base amid growing retail investor interest, saw its shares close at $67 on May 14, up from its IPO price of $52. This surge brings eToro’s market value to over $5.5 billion.
eToro’s stock hit a high of $74.26 during the trading day before settling at $66.53 in after-hours trading. The company raised $620 million after increasing its IPO size, selling over 11.92 million shares — up from the initially planned 10 million. BlackRock-managed funds were among the notable investors, signaling interest in purchasing up to $100 million worth of shares.
The IPO was led by investment banking giants Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup. In a statement to Cointelegraph, eToro Australia managing director Robert Francis highlighted that the IPO demonstrates retail investing’s enduring appeal, calling it a “long-term trend.” The move comes as rival trading platform Robinhood (HOOD) saw its shares dip 1.9% to $61.39 on the same day.
eToro’s public debut is part of a broader resurgence in IPO activity after delays caused by global economic uncertainty and tariff disputes initiated by former US President Donald Trump. The platform had initially planned to go public via a SPAC merger in 2021 at a valuation of $10 billion but scrapped the plan amid market volatility in 2022.
In its regulatory filings, eToro reported crypto-related revenue of $12.1 billion for 2024, a significant increase from $3.4 billion in 2023. However, the company expects crypto to account for 37% of its total trading commissions in Q1 2025, down from 43% in Q1 2024.
Also Read: eToro Surpasses IPO Expectations with $620M Raise – How Will ETOR Fare on Nasdaq?
Meanwhile, other major crypto firms, including Kraken and Circle, are also eyeing public listings in 2025, indicating that eToro’s Nasdaq debut could signal a renewed wave of crypto IPOs. With the sector showing signs of recovery, market watchers will be keenly observing how eToro’s stock performance unfolds in the coming months.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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