eToro debuts on the Nasdaq in New York

"For a tech company to debut on Nasdaq in the year it blows out its 18 candles is the closing of a circle". So says Yoni Assia, CEO and co-founder of eToro, one of Europe's best-known trading and crypto asset platforms, on the day his creature makes its debut on the world's most important market. Yoni, considered one of the pioneers in cryptocurrencies, founded eToro at the age of 25, inheriting from his family a passion for innovative finance: his father was among the creators of hi-tech in Israel, founding several start-ups (Magic and Aladdin) and his grandfather had started the Swiss Israel Trade Bank. "We are a company born in Europe, the majority of our customers are European with Italy being one of the main countries of expansion. But we will also move to the US where we plan to attract new customers. For a tech company such as we are, it is obvious that Nasdaq was the listing par excellence,' adds Assia, 'but our mission remains the same, which is to always keep the platform at the forefront, to be able to guarantee a complete, simple and accessible service. Our European clients (ed. they have an average age of 37 and an invested portfolio of 5 thousand dollars, while the so-called Diamond clients have a portfolio of 500 thousand dollars) will be able to invest in all the US markets, but also those in Asia and the Middle East, since we have just signed an agreement with the Hong Kong Exchange and the Abu Dhabi Exchange, as well as in London and the rest of Europe'. Out of a total of two million clients, 5% reside in Italy.

With a price per share set at $52, the trading platform eToro exceeded market expectations, raising $620 million. According to data released by the company, more than 11.92 million shares were sold under the ETOR ticker. In addition, eToro granted subscribers a 30-day option to purchase an additional 1,788,452 shares of class A common stock from eToro. Revenues in 2024 reached $931 million and profits $304 million (up from $117 million in 2023), the assets under administration amounted to $16.6 billion (+73% compared to 2023). eToro is a 'hybrid' company since within its platform crypto services are only a part of the total offering. Thus, it stands among the competitors of Coinbase (listed in 2021) and Robinhood (HOOD), whose shares have risen more than 67% since the beginning of 2025. Goldman Sachs & Co. LLC, Jefferies, UBS Investment Bank and Citigroup are the lead book-running managers of the offering.