Cryptocurrency brokerage eToro completes U.S. IPO, raising nearly $310 million

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According to Coindesk from Foresight News, eToro, a cryptocurrency and stock trading online brokerage and competitor of Robinhood, raised approximately $310 million in its initial public offering (IPO) in the United States, pricing above its previously announced range. The company issued 6 million shares at $52 per share, valuing the company at $4.2 billion. Previously, a BlackRock fund planned to purchase up to $100 million of eToro shares at the IPO price.

IPO documents show that eToro's net profit for 2024 is $192 million. The IPO is led by Goldman Sachs, and eToro's stock is expected to be listed on the Nasdaq Global Select Market under the ticker ETOR.

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