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Shares of eToro soared on their first day of public trading after the Israeli retail trading platform finally made its market debut. Trading under the ticker ETOR on the Nasdaq, the stock surged more than 30 percent on Wednesday and was priced at $66.15 at time of writing.
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The initial public offering brought in about $620 million through the sale of nearly 11.9 million Class A common shares. Half of those shares were issued by eToro, while the other half came from existing shareholders cashing out part of their stake. The offering was priced higher than expected, signaling strong demand.
Founded in 2007, eToro has often been seen as a global competitor to Robinhood. The company had tried to go public before—in 2021, it planned to list through a $10.4 billion SPAC deal. That plan collapsed as the SPAC trend faded and market conditions shifted.
Earlier this year, eToro delayed its IPO again after U.S. tariff developments under former President Donald Trump created market uncertainty, according to Bloomberg.
eToro has had regulatory challenges in the U.S., particularly around its crypto offerings. In September, the firm agreed to pay $1.5 million in penalties to the U.S. Securities and Exchange Commission (SEC). The settlement followed accusations that eToro operated as an unregistered broker and clearing agency for crypto assets since 2020.
Without admitting or denying the charges, eToro also agreed to limit its U.S. crypto trading to just three assets: Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH).
Despite those restrictions, the platform remains popular for its crypto-friendly tools and social trading features. With a fresh influx of capital from the IPO, eToro now has a stronger financial position to grow its U.S. presence and expand in other global markets.