eToro has fixed its long-awaited initial public offering at $52 a share, comfortably above the $46-$50 range it marketed just a week ago.
The move lifts expected proceeds to roughly $620 million, a 24 percent jump on the broker’s original $500 million target.
Investors snapped up 11.92 million shares, split almost evenly between the company itself and early backers who chose to cash in.
Trading Timeline and Mechanics
The stock is scheduled to begin changing hands on May 14 on the Nasdaq Global Select Market under the ticker “ETOR.”
Order books will stay open at least until May 15, giving latecomers another day to participate in the deal.
Nearly half of the shares come directly from eToro, with the balance offered by venture funds that invested more than a decade ago.
Competitive Context
A successful float puts the Israel-based broker in direct competition with Robinhood Markets, whose own shares have soared more than 60 percent this year.
Robinhood’s rally underscores a revival in retail trading, something eToro hopes to harness as it expands its U.S. footprint.
In 2021 Robinhood listed at $38 and briefly touched $85 before sliding; its rebound to the low $60s has revived appetite for comparable names.
Path To Market
eToro first filed confidential paperwork with the Securities and Exchange Commission in January, then publicly revealed its plans on March 24.
Advisers used the intervening weeks to gauge demand, ultimately deciding the higher pricing was warranted even amid choppy markets.
By boosting the offer size, eToro signalled confidence in its growth story despite having curtailed U.S. crypto trading last year after an SEC settlement.
Use of Proceeds
Management says fresh capital will fund new product lines, additional regulatory licenses and selective acquisitions in both developed and emerging markets.
The broker also wants to enhance its social-trading tools, a feature executives argue differentiates the platform from pure-order-execution rivals.
Wider Crypto-Fintech Pipeline
Digital bank Chime has filed to list on the same exchange and could raise as much as $1 billion, according to Renaissance Capital projections.
Crypto exchange Kraken is weighing whether to go public before year-end, while stable-coin issuer Circle paused its own effort after an April tariff-driven market shock.
Custody specialist BitGo has already launched an over-the-counter trading desk, a step insiders describe as a “pre-IPO warm-up.”
Research firm Bitwise predicts at least five crypto “unicorns” will list during 2025, echoing the trail first blazed when Coinbase went public in 2021.
Investor Considerations
Analysts will watch day-one trading for signs that renewed retail enthusiasm can withstand higher interest rates and lingering macro volatility.
Sustained demand could lift valuations across the broader fintech space, but a weak debut might chill other offerings waiting in the wings.
Proceeds give eToro breathing room, yet the company still faces regulatory headwinds and intensifying competition from both legacy brokers and upstart apps.