- EToro increases its initial public offering to $620 million, pricing shares above earlier expectations.
- The platform and backers sell roughly 12 million shares at $52 each, with trading set to begin on Nasdaq under “ETOR.”
- Several other crypto and fintech companies, including Chime and Kraken, are also considering going public.
eToro, a crypto and stock trading platform based in Israel, has expanded the size of its initial public offering (IPO) to $620 million. According to a press release issued on May 13, the company and its backers are selling over 11.92 million shares at $52 each. These shares are expected to debut on the Nasdaq Global Select Market on May 14 under the ticker symbol “ETOR.”
The announcement shows that eToro initially planned to raise $500 million by offering 10 million shares priced between $46 and $50 per share. With the latest adjustment, the offering now contains about 5.9 million shares from eToro itself and another 5.9 million from existing shareholders. The share sale will remain open at least until May 15. Details are available in the company’s official press release.
By going public, eToro will become a direct competitor to U.S.-based Robinhood Markets Inc. (ticker: HOOD), which launched its own IPO in July 2021. Shares of Robinhood have risen over 67% since the start of the year, closing on May 13 at $62 and approaching their all-time high of $65 reached in February, per Google Finance.
Regulatory filings show eToro started the IPO process confidentially with the U.S. Securities and Exchange Commission in January and publicly announced its intention on March 24.
In related news, digital banking company Chime has also filed for a Nasdaq listing under the ticker “CHY,” as reported in a press statement. Chime has not yet disclosed the number of shares or expected price range. An advisory from Renaissance Capital suggests the IPO could yield up to $1 billion, shared in a
client note dated May 13.
Other crypto companies may follow suit this year. Industry sources report that Kraken, a cryptocurrency exchange, is weighing a public offering. Stablecoin firm Circle filed for an IPO on April 1 but paused its plans after recent global market disruptions linked to tariff announcements. Crypto custody provider BitGo also signaled IPO intentions for later in the year after expanding its over-the-counter digital asset trading desk.
In December, Bitwise, a crypto exchange-traded fund issuer, predicted five crypto companies might go public in 2025, including Circle, Kraken, Figure, Anchorage Digital, and Chainalysis. Coinbase was the first major U.S. crypto firm to go public, listing on the Nasdaq in 2021.
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