eToro’s IPO: A Pricey Leap into the Public Market at $52 a Share!

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Oh, what a delightful turn of events! The much-anticipated eToro, a platform where one can trade both crypto and stock (for those who like their fortunes to be in constant flux), has decided to raise the stakes. Instead of settling for the previously proposed range, they have priced their initial public offering at an extravagant $52 per share, pushing their lofty ambitions to a sweet $620 million. How utterly… ambitious. 🤑

Over 11.92 million shares have been sold at this price, each more glittering than the last, and the shares are expected to debut on the Nasdaq Global Select Market on May 14, under the ever-so-cryptic ticker symbol ETOR. What a thrilling moment for the lucky few who will buy them! 🏦

At first, the fine folks at eToro aimed to raise a mere $500 million, offering only 10 million shares priced somewhere between $46 to $50. But why settle for modesty when one can aim for the stars, right? 🌟

But wait, there’s more! The offering shall remain open until at least May 15, giving us all a little longer to admire the fruits of their labour. It consists of a splendid balance – 5.9 million shares sold by eToro, and another 5.9 million sold by certain existing shareholders who are clearly in no need of any more digital assets. Well, who can blame them? 🙄

eToro, based in the lovely land of Israel, is stepping into the public market with the hope of competing with Robinhood Markets Inc. (whose shares, to no one’s surprise, are up over 67% this year). We eagerly await to see how they will fare in this battle of the brokers. 🤞

But what a curious path they have taken! Initially, eToro made secret filings with the SEC in January, choosing to keep their plans under wraps. And then, like the grand reveal of a well-kept secret, they made their intentions public on March 24. How wonderfully suspenseful. 🕵️‍♂️

And it seems the competition is heating up. Chime, that darling of digital banking, has also made its intentions clear, filing to list on the Nasdaq under the charming ticker CHY. Yet, the number of shares and price range are still as mysterious as a Jane Austen hero’s true feelings. 😏

Investment advisory firm Renaissance Capital has even ventured a guess (or perhaps it’s a prediction?) that Chime could raise up to $1 billion. Oh, how delightful, the world of IPOs is such a grand spectacle! 🎩

Crypto IPOs in the Works

And as if that wasn’t enough excitement, other crypto companies are considering their own public offerings. Crypto exchange Kraken, ever the mystery, is reportedly mulling a public debut this very year. Will it be as grand as eToro’s? We shall see… 🌍

Circle, that maker of stablecoins, filed with the SEC back on April 1, only to pause their plans following President Trump’s tariff announcements, which surely caused quite the stir in global markets. What a delicate balance these companies must walk! 💼

Not to be outdone, BitGo, a crypto custody services firm, launched a global over-the-counter trading desk earlier this year, after whispers of an impending IPO circulated. Could this be the next big splash? Only time will tell. ⏳

In fact, Bitwise, that purveyor of crypto exchange-traded funds, has made the bold prediction that at least five crypto unicorns will grace the public markets in 2025. These include Circle, Kraken, Figure, Anchorage Digital, and Chainalysis. Truly, the year of crypto is upon us! 🦄

And let us not forget Coinbase, the first major crypto firm to go public in the US, listing its shares on the Nasdaq in 2021. How could we possibly forget such a momentous occasion? 🏛

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2025-05-14 08:14