Crypto assets brokerage firm eToro completes IPO in the U.S., raising nearly $310 million.

On May 14, according to Coindesk, eToro, an online brokerage firm for cryptocurrency and stock trading and a competitor to Robinhood, raised approximately $310 million in its Initial Public Offering (IPO) in the United States, pricing above the previously advertised range. The company issued 6 million shares at a price of $52 per share, resulting in a valuation of $4.2 billion. Previously, a fund under BlackRock planned to purchase up to $100 million worth of eToro shares at the IPO price. IPO documents indicate that eToro's net profit for 2024 is expected to be $192 million. This IPO is led by Goldman Sachs and eToro shares are expected to be listed on the Nasdaq Global Select Market under the ticker symbol ETOR.