EToro, the stock brokerage platform that’s been diving headfirst into crypto, has set the price for its IPO at $52 per share, gearing up to gauge the market’s interest in new offerings. The Israel-based company managed to raise a whopping $310 million by selling nearly 6 million shares, putting its total value at around $4.2 billion. Initially planning to sell shares within the $46 to $50 range, the company ended up surpassing expectations.
The IPO scene seemed to be on the rise following President Donald Trump’s return to the White House in January, after a period of drought caused by concerns over rising interest rates and inflation. CoreWeave’s successful debut in March provided hope for other IPO candidates like eToro, Klarna, and StubHub. Unfortunately, plans were put on hold due to uncertainty surrounding tariffs, causing eToro and other companies to delay their public offerings. However, with eToro’s debut on the Nasdaq under the ticker symbol ETOR, we may soon find out if the market is ready to embrace risk once again.
Founded back in 2007 by brothers Yoni and Ronen Assia, alongside David Ring, eToro competes with popular platforms like Robinhood and generates revenue through various trading-related fees. With a significant increase in net income last year and a strong focus on expanding its crypto business, eToro seems to be on an upward trajectory. Although this isn’t the company’s first attempt at going public, the current IPO seems promising, with major players like BlackRock showing interest in purchasing shares. Overall, eToro’s journey to the public markets has been a rollercoaster ride, but the company remains optimistic about its future prospects.
