Crypto, Stock Trading Platform eToro Soars to $5.4 Billion Market Cap After Nasdaq Debut

Shares of Stock Brokerage Platform Etoro closed 29% higher on Wednesday after the company’s Nasdaq debut and settled around $ 67, according to the Exchange’s website.

Said the company in one press release That it sold 6 million shares for $ 52 each, which raised $ 310 million by its first public offer. According to Nasdaq, the company is appreciated at around $ 5.4 billion based on current prices.

The debut of Etoro reflects the more favorable environment for crypto-related companies. The company established in Israel was one of different, including exchange Crack and Stablecoin E -tent Circle That has shown an interest By becoming public this year, a change in attitude that was almost unthinkable for many observers investigated while American supervisors are examining industry.

Etoro generates trade income by charging users on top of the spread for certain transactions. The company also receives management costs from the transfer of digital assets on its platform, as well as activities bound to “Crypto Asset Wallet Services”.

Last year Etoro generated $ 12.4 billion in income from digital assets, considerably an increase of $ 3.4 billion in 2023, according to a changed declaration Deposited with the Securities and Exchange Commission in mid -March.

The company also had $ 113.2 million in digital assets on its balance, from December 31, 2024. That figure fell slightly from $ 114.7 million a year earlier.

In a letter included in the changed registration declaration of Etoro, Etoro described co-founder and CEO Yoni Assia Crypto as “a revolutionary technology with the potential to decentralize and democratize financial systems on a global scale.”

“The underlying principles of transparency, safety and inclusiveness resonate deeply with the mission of Etoro,” he continued. “If one of the first global investment platforms that embraces Crypto, we have helped millions of investors to get access to this emerging asset class in a safe way.”

The company, which was founded in 2007, offered Bitcoin trade for the first time in 2013. In 2017 it broadened its digital assets offering to include Ethereum, in addition to other popular cryptocurrencies.

At a certain point the users of Etoro in the US had access to more than 70 digital assets. How but one $ 1.5 million settlement With the SEC last year, the company agreed to stop offering all except for three (in the US): Bitcoin, Ethereum and Bitcoin Cash.

The SEC accused Etoro of exploiting a non -registered broker and clearing agency “in connection with his trading platform that facilitated certain crypto activa as securities,” said a statement by the regulator.

At the time, Assia told Decrypt In a statement that the shift would have ‘minimal impact on our worldwide activities’. According to Etoros websiteThe services of the company are available in around 70 countries.

Just as with Crypto Exchange Coinbase, Etoro users can do that stake Various cryptocurrencies that use the company’s platform. Strike refers to the process of locking up cryptocurrencies to participate in validating transactions in exchange for rewards. The Etoro service, although available in some parts of Europe, is not available for customers in the US

Etoro was one of the various platforms, including Robinhood Robinhood, that sUspeded Trading For cryptocurrencies in 2023, as the SEC continued with controversial lawsuits against Coinbase and Crypto Exchange Binance. The SEC had claimed that different tokens were not registered effects in those lawsuits – but those fallen have been abandoned since.

Published by James Rubin