The day has finally arrived for those hoping to get in on shares of crypto and stock trading firm eToro Group Ltd. The fintech company is holing its initial public offering, with its shares expected to begin trading on the Nasdaq Wednesday after a monthslong delay. Here’s what you need to know about eToro’s IPO.

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eToro is a brokerage company. The fintech firm’s official name is eToro Group Ltd., and it offers a trading platform for people to buy and sell stocks, cryptocurrencies, and other assets.

In the financial services space, eToro’s more traditional competitors are the likes of Charles Schwab, Fidelity, and Vanguard. However, because eToro is a digital-first company, it more closely resembles other digital-first trading platforms like Robinhood.

But eToro has some differentiating features that set it apart from other trading platforms. The platform is perhaps most well-known for its “CopyTrader” feature, which allows eToro users to follow other traders and mimic their trades. The idea behind this feature is that it could help novice traders invest more successfully by replicating the moves of more seasoned investors.

Despite going public now, eToro has actually been around for a while. The company was originally founded in 2007. It is headquartered in Tel Aviv, Israel, and has offices around the globe.

Today is the first time that eToro has gone public, but it’s not the first time the company has tried to.

As noted by CNBC, the company originally tried to go public via a merger with a special purpose acquisition company (SPAC) in 2022. SPACs were all the rage in the early pandemic years, but by 2022, they had started to wane as equity markets took a fall.

Then in March of this year, eToro announced its intention to go public again—this time via a traditional initial public offering (IPO). While eToro at the time did not give a date for its IPO, it was assumed that it would happen relatively quickly.

But eToro’s IPO announcement at the end of March couldn’t have been more badly timed. It was announced little more than a week before President Donald Trump announced his disastrous Liberation Day tariffs, which sent stock markets around the world tumbling.

In April, eToro chose to delay its IPO. However, in early May, as Trump’s trade war stance had begun to soften, Bloomberg reported that eToro was once again on the cusp of launching its IPO.

And now it’s doing just that.

On May 5, eToro filed an updated Form F-1 with the U.S. Securities and Exchange Commission (SEC). This form is little changed from the earlier F-1 the company filed in March. In the F-1, eToro reported the following metrics as of December 31, 2024:

• A global footprint that spreads across 75 countries.

• Approximately 3.5 million Funded Accounts.

• Net Contribution of $787 million (up 41% from $557 million in 2023).

• Total Commission of $931 million (up 46% from $639 million in 2023).

• Net income of $192 million (up 1,161% from $15 million in 2023).

• Adjusted EBITDA of $304 million (up 159% from $187 million in 2023).

As noted by CNBC, eToro makes its money by charging fees on associated trading transactions, including buy and sell orders, withdrawals, and currency conversions.

eToro’s priced its shares on Tuesday. It is expected to begin publicly trading today (Wednesday, May 14, 2025).

eToro’s stock ticker is “ETOR.”

eToro shares will trade on the Nasdaq Global Select Market.

The IPO price of ETOR shares is $52, according to a company press release. This exceeds the high end that eToro originally said it was going to sell its shares for.

In its F-1 filing, the company said it had planned to sell its shares between $46 and $50 apiece.

The higher IPO price suggests that eToro believes there is more substantial demand for its shares than originally thought.

In total, eToro’s IPO offered 11,923,018 Class A common shares for sale.

Nearly six million shares were sold directly by eToro, with most sold by existing eToro shareholders.

Though roughly 11.9 million shares were available under eToro’s IPO, the company will not receive the proceeds for half of them, because existing private shareholders are selling those shares.

That leaves 5,961,509 from which eToro profited. Selling those 5.9 million shares for $52 each netted eToro around $310 million.

At its $52 IPO price, CNBC says eToro now has a market cap of approximately $4.2 billion.

This post originally appeared at fastcompany.com
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