For investors, this is a great sign. The stock was initially offered at $52, but ended up opening at $69.69 per share, making it the largest IPO of an Israeli fintech company in the US.
Not only trading platforms, but also cryptocurrencies are experiencing a rise in value. Just after Moody’s had downgraded the United States’ credit rating from AAA to AA1 on Friday, May 16th, Bitcoin dropped to $102,000. This was due to uncertainty regarding the rising US government debt. However, according to CoinDesk, Bitcoin recovered quickly, experiencing a rise of up to $106.810,76 only one day later, May 20th.
These developments inspire traders to invest in new cryptocurrencies as a backup plan to fight potential inflation. Platforms like newcryptocurrency.com offer valuable insights on new crypto that are valued at reputable trading platforms. A platform that has seen a rise lately is eToro. According to Investopedia, it is one of the top online brokers where individuals can trade both stocks and cryptocurrencies. In 2013, it was among the first platforms allowing users to trade Bitcoin. Today, US users can master their crypto trading tactics on eToro’s easy-to-use platform by buying and selling three different cryptocurrencies and keeping them safe in a wallet that can hold multiple coins.
In 2021, eToro wanted to go public for the first time. At that time, eToro attempted to enter into a SPAC deal with FinTech Acquisition Corp. V., but it failed. When eToro had to lay off countless employees after this setback, there was little hope for such a strong turnaround. Now, eToro’s trading value has exceeded all expectations. A success for crypto traders as eToro’s social trading feature allows investors to copy trading strategies from pros. Cryptocurrency trading has been successful for eToro, bringing in $12.1 billion in revenue, which helped the company reach its current position.
According to experts, eToro’s successful debut is also due to recent regulatory clarity in the US. The US Securities and Exchange Commission (SEC) has relaxed certain restrictions on the listing of crypto assets. Furthermore, the general positive attitude towards digital assets in correlation with the Trump administration is increasingly encouraging exchanges to expand their offerings. EToro, however, reached an agreement with the SEC last September to continue to focus its US operations on established cryptocurrencies, namely Bitcoin, Ether, and Bitcoin Cash.
In an interview with Reuters, eToro’s founders emphasize education and community engagement as necessary part of their strategy. CEO Yoni Assia explained that people learning about crypto markets help them gain a deeper understanding of capital markets. The goal is to make this knowledge easily accessible. If everyone understands digital assets, it has the potential to attract even more people to use the platform’s trading and research tools.
With its recent success, eToro is looking ahead with confidence. The groundbreaking IPO stems from the resurgence of initial public offerings in the US, as companies seek to take advantage of Nasdaq’s deep liquidity. eToro, too, is betting on its Nasdaq visibility to expand in Asia and North America, where it faces rivals like Robinhood and Coinbase. How Etoro will hold up will be shown in the next quarterly report. Any new openings on the market can be followed on Nasdaq’s own IPO calendar, which provides a real-time overview of upcoming IPOs. For now, eToro’s IPO has already generated confidence in the Israeli fintech sector and has reason to hope for new financial innovations with Nasdaq.
