Online trading platform eToro has priced its initial public offering (IPO) above expectations, securing $620 million ahead of its official trading debut on the Nasdaq Global Select Market under the ticker symbol ETOR.
In a press release issued May 13, eToro revealed that it and its shareholders sold approximately 11.92 million shares at $52 each, surpassing the earlier plan to raise $500 million from 10 million shares priced between $46 and $50. The offering includes roughly 5.9 million shares sold by eToro itself and an equal number from existing shareholders. The IPO is set to remain open until at least May 15.
The Israel-based company is entering the U.S. public market as a direct competitor to Robinhood Markets Inc. (HOOD), whose stock has surged over 67% year-to-date, according to Google Finance. eToro had initially filed for its IPO confidentially with the U.S. Securities and Exchange Commission (SEC) in January before going public with its plans on March 24.
eToro’s debut comes amid a resurgence of interest in public offerings across fintech and crypto sectors. Digital banking company Chime has also filed to list on the Nasdaq under the symbol CHY, though its pricing details remain undisclosed. According to a May 13 client note from Renaissance Capital, Chime’s IPO could potentially raise up to $1 billion.
Meanwhile, Kraken, one of the world’s largest crypto exchanges, is reportedly preparing for a public offering later this year. Circle, the issuer of USD Coin (USDC), filed for a U.S. IPO on April 1 but paused its plans following a market downturn triggered by President Trump’s April 2 tariff announcements.
BitGo, a crypto custody firm, launched an OTC trading desk for digital assets in February and is said to be exploring a public listing later in 2025. Industry players expect more crypto giants to follow suit. In a December forecast, Bitwise projected that at least five crypto unicorns — including Circle, Kraken, Figure, Anchorage Digital, and Chainalysis — could go public this year.
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