Stock and crypto trading platform eToro could not have picked a better time for its initial public offering (IPO). Investors appear to be cheering its public market debut, perhaps due to optimism from thawing U.S.-China trade relations. 

Founded in 2007, eToro is a multi-asset trading and social investment platform based in Israel. It will trade with the ticker ETOR on the Nasdaq Exchange starting today, May 14. The platform is particularly known for its “CopyTrader” feature, allowing users to replicate successful investor trades.

The company was seeking to raise $500 million by selling shares at an IPO price range of $46 and $50. eToro priced above this range, at $52 per share. This means that the company raised $620 million in its initial public offering. The company intends to use the net proceeds from this offering for general corporate purposes, including working capital, operating expenses and capital expenditures.

So, after a failed attempt in 2022 to go public via a special purpose acquisition company (SPAC), should investors pay attention to the company’s IPO now? Let’s find out.

eToro’s Financials Are on a Growth Path

eToro’s financials paint a picture of optimism around the firm. The company’s revenues doubled to $12.6 billion in 2024 from $6.3 billion in 2022. Increasing revenues accompanied the company turning profitable as it reported earnings per share of $8.76 in 2024, up from a loss of $11.45 in 2022. 

The company also generates substantial cash from its operations, with 2024 seeing eToro reporting net cash from operating activities of $268.6 million. Overall, the company ended 2024 with a healthy cash balance of $575.4 million, with debt of $48.3 million on its books through lease liabilities.

Notably, eToro has about 3.5 million funded accounts across 75 countries with total commission and net contribution rising to $931 million and $787 million in 2024 from $639 million and $557 million in 2023, respectively.

Strong Demand for IPO (And with Good Reason)

According to recent reporting, eToro’s public listing attracted exceptionally strong interest, with demand reportedly surpassing the number of available shares by more than 10 times. 

Much of the confidence surrounding this offering stems from the market’s potential. A 2025 industry study published by Straits Research estimated the global online trading platform market at around $33.4 billion in 2024, projecting growth to nearly $88.8 billion by 2033. This backdrop, paired with eToro’s focus on social investing, diversified asset access, and an international user base, has played a major role in driving investor enthusiasm.

A core feature that underpins a significant portion of eToro’s revenues is its copy trading system. This offering enables users to mirror the investment decisions of seasoned traders on the platform, providing a retail-accessible alternative to traditional fund strategies. These trades are typically structured using contracts for difference, allowing for enhanced leverage and exposure.

The Bottom Line on the ETOR Stock IPO 

eToro operates in a growing market with some unique offerings. Its financials and user base are also improving, with the company’s plans already afoot to expand to new countries and continue to grow user engagement through product innovation. Although regulatory issues and heightened competition remain issues, I reckon eToro’s robust financials and offerings gives it a solid base to remain competitive.