eToro Makes Nasdaq Debut With $620M IPO, Trades Under ‘ETOR’

Trading platform eToro officially joined the Nasdaq Global Select Market on May 14, listing under the ticker symbol ETOR. The Israel-based firm raised $620 million in its U.S. initial public offering, pricing shares at $52—above the previously marketed range of $46–$50.

Over 11.92 million shares were sold in the offering. Roughly half came from eToro itself, with the rest from existing shareholders. The offering will remain open through at least May 15.

This public debut gives eToro an estimated valuation of $4.3 billion, or close to $5 billion on a fully diluted basis. Investment funds managed by BlackRock indicated interest in purchasing up to $100 million worth of shares, signaling institutional appetite for fintech and crypto-exposed assets.

From Copy Trading to Public Markets

Founded in 2007, eToro allows users to trade stocks, crypto, and other assets. The platform also offers copy trading—letting users mimic the portfolios of experienced investors.

The company reported $192 million in net income for 2024, up sharply from $15.3 million the year prior. Net contribution rose to $787 million from $557 million over the same period.

eToro had previously planned to go public through a $10.4 billion SPAC deal, which fell through in 2022. The current IPO marks a comeback after the firm paused listing plans in April due to tariff-induced market volatility.

A Growing Trend Among Crypto Firms

eToro now joins a small but growing list of crypto-related firms to trade publicly in the U.S. Coinbase (COIN) debuted in 2021, and others like Kraken, Circle, and BitGo are also exploring IPOs this year.

The listing follows eToro’s regulatory settlement in the U.S., where the platform agreed to limit crypto offerings to Bitcoin, Ethereum, and Bitcoin Cash. Outside the U.S., it recently secured a MiCA license in Cyprus, reinforcing its intent to expand in regulated markets.