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May 15, 2025Shares of stock brokerage and crypto trading platform eToro closed 29% higher on Wednesday following its Nasdaq debut, settling around $67.
Shares of stock and crypto trading app eToro closed 29% higher at $67 following its Nasdaq debut.
Co-founder and CEO Yoni Assia views crypto as “a revolutionary technology.”
In the U.S., eToro offers trading on just three cryptocurrencies, following a $1.5 million settlement with the SEC.
Shares of stock brokerage platform eToro closed 29% higher on Wednesday following the firm’s Nasdaq debut, settling around $67, according to the exchange’s website.
The firm said in a press release that it sold 6 million shares at $52 each, raising $310 million through its initial public offering. Based on current prices, the firm is valued at roughly $5.4 billion, according to Nasdaq.
EToro’s debut reflects the more favorable environment for crypto-related firms. The Israel-based company was among several including exchange Kraken and stablecoin issuer Circle that expressed an interest in going public this year, a shift in attitude that was nearly unthinkable to many observers as U.S. regulators scrutinized the industry.
EToro generates trading income by charging users a fee on top of the spread for certain trades. The firm also receives management fees from the transfer of digital assets on its platform, as well as activity tied to “crypto asset wallet services.”
Last year, eToro generated $12.4 billion worth of revenue from digital assets, up significantly from $3.4 billion in 2023, according to an amended registration statement filed with the Securities and Exchange Commission in mid-March.
The company also held $113.2 million worth of digital assets on its balance sheet, as of Dec. 31, 2024. That figure was slightly down from $114.7 million a year before.
In a letter that’s included in eToro’s amended registration statement, eToro co-founder and CEO Yoni Assia described crypto as “a revolutionary technology with the potential to decentralize and democratize financial systems on a global scale.”
“Its underlying principles of transparency, security, and inclusivity resonate deeply with eToro’s mission,” he continued. “As one of the first global investment platforms to embrace crypto, we have helped millions of investors to access this nascent asset class in a safe way.”
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