eToro Group Ltd., the Israeli fintech giant known for its innovative stock and crypto trading platform, made its highly anticipated debut on the Nasdaq Global Select Market today, trading under the ticker symbol “ETOR”.
The initial public offering (IPO) marks a significant milestone for the company, which has garnered global attention for its social trading features and rapid growth in both traditional and digital asset markets.
After months of speculation and a delayed timeline due to volatile market conditions, eToro priced its IPO at $52 per share-above its initial range of $46 to $50. The upsized offering saw 11.92 million shares sold, raising approximately $620 million and giving the company a valuation of $4.2 billion. The offering was heavily oversubscribed, reflecting robust investor demand and confidence in eToro’s business model and future prospects.
Founded in 2007 and headquartered in Tel Aviv, eToro has grown into a major player in the global brokerage industry, serving over 3.5 million funded accounts across 75 countries.
The platform is best known for its ‘CopyTrader’ feature, which allows users to automatically replicate the trades of experienced investors, making sophisticated strategies accessible to novices and seasoned traders alike.
The IPO comes at a pivotal time for the fintech sector and the broader IPO market, which has seen subdued activity since 2021. eToro’s successful listing is seen as a key test for investor appetite in new tech and fintech offerings. The company’s financials underscore its momentum: in 2024, eToro reported $931 million in total commission revenue, $192 million in net income, and an adjusted EBITDA of $304 million, all showing substantial year-on-year growth.
Proceeds from the IPO will be split between the company and existing shareholders, with eToro itself receiving about $310 million to fuel further expansion. Major institutional backers, including BlackRock, have shown strong interest, with BlackRock pledging up to $100 million in shares at the IPO price.
eToro’s Nasdaq debut not only solidifies its position as a formidable rival to platforms like Robinhood but also signals renewed optimism in the public markets for fintech and crypto-focused companies. With its unique blend of social trading and multi-asset access, eToro is poised to shape the next chapter of digital investing on a global scale.
