eToro Prices IPO at $52 Per Share, Plans to Raise $620 Million

Highlights:

• eToro plans to raise $620 million in its United States IPO by pricing shares higher.
• BlackRock eyes a $100 million stake in eToro’s upcoming IPO with major underwriters.
• Other crypto companies, including Kraken and Circle, also eyeing public offerings this year.

Crypto and stock trading platform eToro is set to raise nearly $620 million in its U.S. Initial Public Offering (IPO) by pricing its shares higher than expected. eToro and its investors will sell 11.92 million shares at $52 each. The shares will begin trading on the Nasdaq on May 14 with the ticker symbol ETOR, as announced in a press release on May 13.

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eToro $ETOR looks like a strong IPO upcoming… pic.twitter.com/WvBzD7zPYo

— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) May 13, 2025

At first, eToro planned to raise $500 million by selling 10 million shares, each priced between $46 and $50. The share offering will remain available until May 15 at the earliest. eToro will sell over 5.9 million shares, while some current shareholders will sell another 5.9 million shares. The trading platform is going public as a competitor to Robinhood Markets Inc. (HOOD), which went public in July 2021. According to Google Finance, Robinhood’s stock has gone up more than 67% so far this year.

eToro was started in 2007 as a social platform for stock trading. In 2018, it added crypto trading and has since become one of the biggest crypto brokers for everyday investors. In September, eToro agreed to only offer Bitcoin (BTC), Bitcoin Cash (BCH), and Ether (ETH) in the U.S. This was part of a deal to settle charges from the Securities and Exchange Commission (SEC), which said eToro had been running as an unregistered broker and clearing agency. At first, eToro secretly filed plans for a public offering with the SEC in January. It officially announced those plans on March 24.

BlackRock Plans to Buy a $100M Stake at the IPO Price

Regulatory filings reveal that eToro plans to sell 11.92 million shares in the larger deal. BlackRock has shown interest in buying up to $100 million worth of shares at the IPO price. Jefferies, UBS, Goldman Sachs, and Citigroup are the main underwriters for the offering. The offering values the eToro at around $4.3 billion, or almost $5 billion when fully diluted.

Crypto Companies Eyeing Public Offerings

Other crypto companies are also thinking about going public. Crypto exchange Kraken is reportedly looking into a public offering this year. Circle, the stablecoin company, submitted a filing to go public with the SEC on April 1. Chime, the digital banking company, has filed to list its stock on the Nasdaq with the symbol CHY. However, it hasn’t yet decided how many shares it will sell or at what price. In a note to its clients on May 13, Renaissance Capital said Chime’s IPO could bring in as much as $1 billion.

In December, Bitwise, a company that offers crypto exchange-traded funds, predicted that at least five big crypto companies would go public this year. These include crypto bank Anchorage Digital, stablecoin issuer Circle, crypto exchanges Kraken and Figure, and blockchain data firm Chainalysis.

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