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

The shares of the Etoro section intermediation platform closed on Wednesday by 29% more after the debut of Nasdaq, settling around $ 67, according to The Exchange website.

The company said ua a statement That he sold $ 6 million at $ 52 each, raising $ 310 million through his initial public offer. Based on current prices, the company is estimated at approximately $ 5.4 billion, according to Nasdaq.

Etor’s debut reflects a more favorable environment for the crypto company associated with companies. The company based in Israel was among several, including Exchange Kraken and the publisher Stablecoin Lap that expressed interest This year, in public, a shift in an attitude that was almost unimaginable for many observers while American regulators carefully inspected the industry.

Etoro generates revenue from trading by charging users fees at the top of the spread for certain stores. The company also receives compensation fees from the transmission of digital assets on its platform, as well as activities related to “Crypto Asset Wallet Services”.

Last year, Etoro generated revenue from digital assets worth $ 12.4 billion, which is $ 3.4 billion in 2023 compared to $ 2023, according to the changed modified Registration Statement Submitted to the Securities Commission in mid -March.

The company also had a digital assets worth $ 113.2 million in its balance sheet from December 31, 2024. That figure was slightly with $ 114.7 million before.

In a letter involved in the changed statement of the change of ETORO, ETORO co-founder and the Yoni Assia CEO described Crypto as “revolutionary technology with the potential of decentralization and democratization of financial systems globally.”

“His fundamental principles of transparency, security and inclusivity are deeply echoed with Etor’s mission,” he continued. “As one of the first global investment platforms to accept cryptocurrencies, we helped millions of investors to approach this class of assets in a safe way.”

The company, which was founded in 2007, was first offered Bitcoin Trading in 2013. In 2017, he expanded his offer of digital assets on including EthereumAmong other popular cryptocurrencies.

At one point, Etor’s users in the US had access to over 70 digital agents. However, after a A $ 1.5 million settlement With DIC last year, the company agreed to stop offering everything but three (in the US -U): Bitcoin, Ethereum and Bitcoin Cash.

The accused Etoro by managing an unregistered broker and a cleaning agency “regarding his trade platform that made it easier to buy and sell certain crypto assets as value papers,” the regulator statement said.

Then Assia said Decipher In a statement that the shift would have a “minimal impact on our global business”. According to Etor websiteCompany services are available in about 70 countries.

Similar to Crypto Exchange Coinbase, Etoro users can stake Several cryptocurrencies that use the company platform. The investment refers to the CRIPTO currency lock procedure to participate in the procedure for confirmation of transactions in exchange for rewards. Etoro service, although available in some parts of Europe, is not available to customers in the US

Etoro was among several platforms, including Robinhood retail intermediary, which areTidied trading For the 2023 Crypto Curry, while Secus pressed forward with high lawsuits against Coinbase and Crypto Exchange Binance. DIP claimed that several tokens were unregistered securities in these lawsuits – but they cases They have been abandoned since then.

Edited by James Rubin