eToro Soars 30% in NASDAQ Debut—Finally Cashing In on Retail Trading Mania

After years of teasing investors, the retail trading platform pulls off its IPO—just as markets peak. Cue the confetti cannons.

From meme stocks to mainstream

The platform that brought you Dogecoin millionaires and Gamestop hype now wants Wall Street’s stamp of approval. Spoiler: They got it.

The cynical take

Nothing says ’top of the market’ like a fintech IPO. At least this one didn’t SPAC its way to the big leagues—small mercies.

eToro Focusing on Profitable Growth Pays Off

CEO Yoni Assia wasn’t interested in hype. Unlike other fintech firms that rushed into the market during the 2021 boom, eToro waited. The company scaled up, turned solid profits, and struck when the market was ready. Assia said the focus was clear: build sustainably before going public.

In 2024, eToro reported $192 million in net income—up from just $15 million the year before. Revenue surged to over $12 billion. The platform now boasts 40 million users across 75 countries. Nearly three-quarters of its trades are in stocks, the rest in crypto. That mix helped the company weather market shifts and prepare for a strong IPO.

NASDAQ Listing Marks a New Chapter for eToro

The NASDAQ listing wasn’t eToro’s first IPO attempt. Back in 2021, the company tried to go public through a SPAC deal. That plan fell apart in 2022 as equity markets crashed. Still, eToro didn’t fold. It waited for better conditions—and it paid off.

Now, with a $5.6 billion market cap, the company has re-established its presence on Wall Street. Underwriters like Goldman Sachs and UBS helped it meet high investor demand. They even upped the offering size to 11.9 million shares. Existing investors also cashed out by selling nearly 6 million more shares.

Trading Platform Sees Crypto Boom Boost Profits

Crypto trading was a game-changer. In 2024, it made up 38% of eToro’s commission revenue. That’s a major jump from 2023, when it was just 17%. The platform leaned into the crypto wave and benefited from increased volatility and market excitement.

Assia said that volatility drives engagement. When the markets MOVE fast, eToro’s retail users are quick to act. The platform also pushes education, allowing users to learn from each other. This has become a big selling point, especially for younger, mobile-first investors.

What eToro IPO Means for the Broader Market

eToro’s successful debut could reopen the IPO window. Other fintech firms like Chime are watching closely. Some pulled their listings earlier this year due to uncertainty, especially with policy moves like new tariffs. But eToro’s stock price jump shows there’s still demand—for the right company.

This IPO wasn’t just about one trading platform. It was a litmus test. And the market responded with a clear message: fintech isn’t dead. If a firm brings growth, profit, and a strong user base, investors are ready to buy.