eToro just proved it knows how to play the big leagues. The Israel-based trading platform pulled off a showstopper, pricing its highly anticipated IPO at $52 per share and raising a massive $620 million. That price landed well above the original target range of $46 to $50.
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eToro Storms Onto Nasdaq with $620 Million IPO
The stock, trading under the ticker ETOR, hit the Nasdaq Global Select Market on May 14. According to eToro’s May 13 release, more than 11.92 million shares were sold at $52. That’s a dramatic boost from its initial plan of 10 million shares aiming for around $500 million.
The offering split roughly down the middle. Over 5.9 million shares came straight from eToro. Another 5.9 million came from specific existing shareholders cashing in. The window for the offer remains open until at least May 15, giving investors a final shot to grab a slice.
eToro Lines Up Against Robinhood in Market Duel
Now comes the real test. eToro steps onto the public stage as a direct rival to Robinhood Markets Inc (HOOD). Robinhood blazed the trail back in July 2021. It has been on a tear ever since. As of May 13, Robinhood closed at $62, up a hefty 67% year to date. That puts it within striking distance of its February peak of $65.
eToro’s challenge is clear. Can it win over traders the way Robinhood did? Investors are already placing their bets.
Crypto IPO Pipeline Stays Crowded Despite Market Swings
eToro took center stage this week but plenty of crypto players are waiting in the wings to make their Wall Street debut. Digital banking giant Chime has filed to list under the ticker CHY, with speculation from Renaissance Capital suggesting it could raise up to $1 billion.
Kraken is reportedly circling an IPO later this year. Stablecoin issuer Circle filed in April only to slam the brakes after President Donald Trump’s April 2 tariff announcement rocked global markets. Meanwhile, BitGo has launched an OTC desk for digital assets as it reportedly gears up for a public listing.
Back in 2021, Coinbase (COIN) kicked off the crypto IPO trend by listing on Nasdaq. Now a fresh pack of challengers is gathering. eToro just became the latest to step into the arena.
For eToro, the race is on. It is counting on retail traders, crypto diehards, and a constant hunger for market action to fuel its public journey. As crypto becomes a growing focus not just for eToro but for many newly public players, investors can stay ahead by tracking live prices and in-depth technical analysis of the top tokens on the TipRanks Cryptocurrency Center. Click the image below to explore.
