Yoni and Ronen Assia, brothers and co-founders of eToro, today rang the trading bell at Nasdaq to celebrate the Israeli fintech
giant’s listing.
With a market valuation of $5.4 billion, eToro is trading between $67 and $60. On the second day of trading, the shares dropped nearly 9% compared to the previous price. The stock closed the first day at $67 per
share, well above its $52 IPO price.
Just weeks ago, tariff uncertainty sidelined a wave of
expected public listings. But eToro’s sharp debut may signal a turning point.
The Israeli fintech opened trading on Wednesday at $69.69 a share, jumping 34%
above its IPO price of $52.
The company priced 11.9 million shares above its initial
$46–$50 range, after raising the deal size from 10 million shares. Goldman
Sachs, Jefferies, UBS, and Citi served as joint bookrunners. The robust
investor appetite stands out as the first U.S. IPO to launch successfully
following delays driven by policy uncertainty around tariffs.
Crypto Exposure Boosts Investor Appeal
eToro’s public debut comes at a moment when crypto-related
firms are regaining attention. Coinbase’s recent inclusion in the S&P 500
marked a milestone for the digital asset sector. eToro, which allows users to
trade stocks, ETFs, and cryptocurrencies, has benefited from renewed market
interest in crypto platforms. Revenue from crypto-related trades at eToro nearly
quadrupled to $12.15 billion in 2024.
The firm’s CEO, Yoni Assia, said broader engagement with
digital assets tends to pull more users into equity markets. “We have
learnt that when people get more educated about the crypto markets, they generally
get more educated about the stock and capital markets,” he said in an
interview with Reuters.
The listing also arrives in a more relaxed regulatory
environment for crypto firms. Under the leadership of SEC Commissioner Paul
Atkins, the agency has paused or dropped enforcement actions against major
platforms including Coinbase, Kraken, and Robinhood.
However, not all regulatory pressure has disappeared. eToro
still operates under a limited crypto license in the U.S., offering only
bitcoin, ether, and bitcoin cash, due to a prior settlement with the SEC.
IPO May Reignite Delayed Listings
eToro’s strong start could nudge other fintechs to revisit
postponed IPO plans. Buy-now-pay-later giant Klarna and digital bank Chime are
among those waiting for better market conditions. Chime filed for a Nasdaq
listing just one day before eToro’s debut.
Despite regulatory gray areas and market uncertainty,
eToro’s surge reflects broader investor appetite for platforms that attract
retail traders. The company’s valuation in its 2023 funding round rose from $3.5 billion to its current $5.64 billion market cap.
Yoni and Ronen Assia, brothers and co-founders of eToro, today rang the trading bell at Nasdaq to celebrate the Israeli fintech
giant’s listing.
With a market valuation of $5.4 billion, eToro is trading between $67 and $60. On the second day of trading, the shares dropped nearly 9% compared to the previous price. The stock closed the first day at $67 per
share, well above its $52 IPO price.
Just weeks ago, tariff uncertainty sidelined a wave of
expected public listings. But eToro’s sharp debut may signal a turning point.
The Israeli fintech opened trading on Wednesday at $69.69 a share, jumping 34%
above its IPO price of $52.
The company priced 11.9 million shares above its initial
$46–$50 range, after raising the deal size from 10 million shares. Goldman
Sachs, Jefferies, UBS, and Citi served as joint bookrunners. The robust
investor appetite stands out as the first U.S. IPO to launch successfully
following delays driven by policy uncertainty around tariffs.
Crypto Exposure Boosts Investor Appeal
eToro’s public debut comes at a moment when crypto-related
firms are regaining attention. Coinbase’s recent inclusion in the S&P 500
marked a milestone for the digital asset sector. eToro, which allows users to
trade stocks, ETFs, and cryptocurrencies, has benefited from renewed market
interest in crypto platforms. Revenue from crypto-related trades at eToro nearly
quadrupled to $12.15 billion in 2024.
The firm’s CEO, Yoni Assia, said broader engagement with
digital assets tends to pull more users into equity markets. “We have
learnt that when people get more educated about the crypto markets, they generally
get more educated about the stock and capital markets,” he said in an
interview with Reuters.
The listing also arrives in a more relaxed regulatory
environment for crypto firms. Under the leadership of SEC Commissioner Paul
Atkins, the agency has paused or dropped enforcement actions against major
platforms including Coinbase, Kraken, and Robinhood.
However, not all regulatory pressure has disappeared. eToro
still operates under a limited crypto license in the U.S., offering only
bitcoin, ether, and bitcoin cash, due to a prior settlement with the SEC.
IPO May Reignite Delayed Listings
eToro’s strong start could nudge other fintechs to revisit
postponed IPO plans. Buy-now-pay-later giant Klarna and digital bank Chime are
among those waiting for better market conditions. Chime filed for a Nasdaq
listing just one day before eToro’s debut.
Despite regulatory gray areas and market uncertainty,
eToro’s surge reflects broader investor appetite for platforms that attract
retail traders. The company’s valuation in its 2023 funding round rose from $3.5 billion to its current $5.64 billion market cap.
This post is originally published on FINANCEMAGNATES.
