eToro’s Thrilling Nasdaq Debut: Stock Soars 30% After Upsized IPO
Attention, crypto enthusiasts and market watchers! The much-anticipated public debut of the popular Crypto Trading Platform eToro on the Nasdaq exchange has finally happened, and it made quite a splash. After upsizing its initial public offering (IPO) at the last minute, eToro’s Stock price saw a significant jump on its first day of trading.
eToro’s Strong Start on Nasdaq
eToro Group Ltd. (ETOR) closed its first day of public trading on the Nasdaq up a robust 28.9% from its initial offering price. This strong performance followed the company’s decision to boost its IPO size just the day before its debut.
Here’s a quick look at the key numbers from the first day:
- Initial Offering Price: $52
- Closing Price (May 14): $67
- Percentage Gain: 28.9%
- Intraday High: $74.26
- Market Value at Close: Over $5.5 billion
While the price saw a slight dip after hours, the overall sentiment from the debut was clearly positive, indicating strong investor interest in the Crypto Trading Platform.
Why Did eToro Upsize Its IPO?
Leading up to the debut, eToro increased its IPO to $620 million, selling over 11.92 million shares above its previously suggested price range. This decision likely reflects high demand from investors. Notably, funds managed by BlackRock had indicated interest in purchasing a significant amount of shares during the offering.
This successful debut comes after a period of uncertainty for IPOs, particularly following changes in US trade policies that had caused many firms to pause their plans. eToro itself had previously sought to go public in 2021 via a SPAC merger but canceled the plan in 2022 due to challenging market conditions for both stocks and crypto.
How Does eToro Compare to Rivals?
When looking at the competitive landscape, particularly against rivals like Robinhood Markets Inc. (HOOD), eToro‘s first-day performance stands out. On the same day as eToro’s debut, Robinhood saw its share price decline.
eToro’s financial data also highlights the growing importance of crypto revenue for the platform. In 2024, total crypto revenue reached $12.1 billion, a significant increase from $3.4 billion in 2023. However, the company projected a slight decrease in the percentage of commission derived from crypto trading activity in early 2025 compared to 2024, suggesting a potential shift or normalization in revenue streams.
What’s Next for Crypto Firms and IPOs?
eToro‘s successful listing on the Nasdaq could signal a potential rebound for crypto-related companies looking to go public. Several other prominent firms in the crypto space, including exchange Kraken, stablecoin issuer Circle, crypto bank Anchorage Digital, and blockchain analytics firm Chainalysis, are reportedly considering IPOs this year. While some, like Circle, have also faced delays related to market conditions, eToro’s strong debut offers a hopeful sign for others eyeing the public markets.
The offering was led by major financial institutions including Goldman Sachs, Jefferies, UBS Investment Bank, and Citigroup.
In Summary
eToro‘s debut on the Nasdaq was a significant event for the Crypto Trading Platform, marked by a nearly 30% surge in its Stock price. The upsized IPO and strong investor interest point to confidence in eToro’s business model, which spans both traditional assets and cryptocurrencies. This successful listing could pave the way for other crypto firms considering public offerings in the near future, reflecting the evolving relationship between the traditional financial markets and the digital asset space.
