eToro Rockets to $4.2B Valuation in Nasdaq Debut—Traders Cheer (For Now)
Retail trading platform eToro smashed expectations with its Nasdaq debut, opening at $52 per share—locking in a $4.2B valuation. Wall Street’s latest fintech darling rides the wave of meme-stock nostalgia, proving once again that where there’s leverage, there’s hope.
Bonus jab: Another nine-figure valuation built on the backs of amateur traders chasing dopamine hits. The house always wins—but at least the UI is slick.
Crypto boom drives eToro’s $50M profit surge
eToro had the financials to smoothen its path to an IPO win. In 2024, the company said, net income surged to $192.4 million from $15.3 million. This growth reflected the platform’s tapping of a surge of interest in cryptocurrency and the active participation of users worldwide.
The company has been ramping up its crypto business, with revenue from crypto assets more than tripling to over $12 million in 2024. One-quarter of its net trading contribution last year came from crypto, up from 10% the prior year.
eToro generates revenue from trading fees through spreads on buy and sell orders and from non-trading services, like currency conversions and withdrawal fees. It competes with other upstart retail trading platforms, including Robinhood and Webull, in offering traditional stock trading and access to crypto assets.
By December 2024, the company had 3.5 million funded accounts from more than 75 countries, which showed a growing international momentum.
eToro revives investor confidence with strong IPO
The timing of eToro’s public offering could not be better. The IPO market stopped in recent years but has shown signs of life. The return of President Donald TRUMP to the White House in January 2025 and the stabilization of interest rates and decline in inflation have breathed new life into the public offerings market.
Earlier in the year, GPU cloud infrastructure company CoreWeave went public with a successful debut, opening the door for companies like eToro, Klarna, and StubHub to dip their toes. Temporary fears over tariffs had delayed their plans, but eToro moved ahead after market confidence started to return.
This is not eToro’s first try at going public. It had intended to merge with a special-purpose acquisition vehicle, or SPAC, in a deal that WOULD have valued the business at more than $10 billion by 2022. But that plan was grounded by a larger market slide.
Yoni Assia, the chief executive and a co-founder of the company, which was founded in 2007 with his brother Ronen Assia and David Ring, said earlier in 2024 that they were continuing to ready the company for a public debut, “assessing the right opportunity.” Now officially listed on the Nasdaq, eToro is set to drive a paradigm shift in how ordinary people trade, invest, and participate in financial markets.
The success of eToro’s IPO is now increasingly being closely followed as a litmus test for the pipeline of tech and fintech IPOs, with companies like Hinge Health and Chime next in line to do so.
KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage
