• Shares of eToro popped in their Nasdaq debut on Wednesday.
• The stock and crypto trading app raised almost $310 million in its initial public offering late Tuesday, selling shares above the expected range.
• IPOs looked poised for a rebound when President Donald Trump returned to office in January, but tariff concerns put the market on hold.

Shares of stock brokerage platform in their Nasdaq debut on Wednesday after the company raised almost $310 million in its initial public offering.

The stock opened at $69.69, or 34% above its IPO. Shares closed up nearly 29% at $67 a share, bringing its total market capitalization to more than $5.4 billion.

The Israel-based company nearly six million shares at $52 each, above the expected range of $46 to $50. Almost six million additional shares were sold by existing investors. At the IPO price, the company was valued at roughly $4.2 billion.

Wall Street is looking to the competitor for signs of renewed interest in IPOs after an extended drought. Many investors saw President Donald Trump's return to the White House as a catalyst before tariff concerns led companies to .

"We felt that we're seeing the light at the end of the tunnel of the correction in the markets," CEO Yoni Assia said of eToro's decision to go public in an interview with C온라인카지노사이트. The company was looking for a key measure of market volatility known as the to stabilize in the wake of tariff concerns, he added.

Etoro isn't the only company attempting to test the waters. Fintech company Chime  with the U.S. Securities and Exchange Commission on Tuesday, while digital physical therapy company  kickstarted its IPO roadshow, and said in a filing it aims to raise up to $437 million in its offering.

EToro had previously filed to go public in 2021 through a merger with a special purpose acquisition company, or SPAC, that would have valued it at more than $10 billion. It shelved those plans in 2022 as equity markets nosedived, but remained focused on an eventual IPO.

EToro was founded in 2007 by brothers Yoni and Ronen Assia and David Ring. The company makes money through trading-related fees and nontrading activities such as withdrawals. Net income increased almost thirteenfold last year to $192.4 million from $15.3 million in 2023.

The company has steadily built a growing business in cryptocurrencies. Revenue from crypto assets more than tripled to upward of $12 million in 2024, and one-quarter of its net trading contribution stemmed from crypto last year. That is up from 10% in 2023.

EToro said that for the first quarter, it expects crypto assets to account for 37% of its commission from trading activities, down from 43% a year earlier.

Spark Capital is the company's biggest outside investor, with 14% control after the offering, followed by BRM Group at 8.7%. CEO Yoni Assia controls 9.3%.

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