Following its Nasdaq debut, eToro rolls out reinvestment and employee share plans to support growth.
eToro, the multi-asset trading platform, has completed its initial public offering on the Nasdaq Global Select Market under the ticker ETOR, raising approximately $713 million.
The IPO, officially priced at $52 per share, saw eToro’s stock open with a gain of over 30% before closing near that level, reflecting strong investor interest.
The offering included 10 million Class A common shares—split evenly between eToro and existing shareholders—with an additional 1.5 million shares available under an over-allotment option granted to underwriters. The IPO values the company at around $4.3 billion.
Goldman Sachs, Jefferies, UBS, and Citigroup led the offering. Deutsche Bank, BofA Securities, and others acted as additional bookrunners and co-managers.
AutoReinvest feature targets longer-term investor retention
Coinciding with its public debut, eToro introduced an AutoReinvest feature, allowing users to automatically reinvest dividends or realised profits into selected portfolios.
This product launch will support longer-term investment behaviour and improve user retention metrics by encouraging compounding across managed or thematic portfolios.
The rollout comes as part of eToro’s shift away from short-term speculative trading and toward a more complete personal finance offering. While crypto assets still account for a substantial portion of user activity, eToro has increasingly prioritised regulated markets and passive investment tools to address a maturing user base and shifting regulatory environments.
Financial position and growth trajectory
In its most recent filings, eToro reported $931 million in revenue for 2024, alongside a net income of $192 million—a sharp turnaround from its 2023 net income of $15.3 million. Cryptocurrency trading, particularly in major assets such as Bitcoin and Ethereum, accounted for 38% of commissions in 2024.
The company now operates in over 100 markets and holds multiple regulatory licenses, including in the UK, Australia, Cyprus, and the UAE. In the US, crypto offerings are limited to a select range of assets following a settlement with the Securities and Exchange Commission (SEC).
Employee share plan supports post-IPO talent strategy
Alongside the IPO, eToro introduced a 2025 Employee Share Purchase Plan (ESPP), allowing eligible employees to acquire Class A shares at discounted prices. The plan consists of two components—a Section 423-compliant component and a Non-Section 423 component—enabling participation across global jurisdictions.
Employees can contribute up to 20% of their compensation, subject to statutory and plan limits, with shares priced at a discount of at least 15% to market value on either the purchase or enrollment date.
The ESPP aligns with eToro’s broader efforts to incentivise staff and maintain talent post-IPO amid a competitive landscape for fintech expertise.
Delayed listing reflects market caution
eToro’s IPO comes after a cancelled 2022 SPAC merger that would have valued the company at $10.4 billion.
That transaction was terminated due to market conditions and valuation compression across the fintech sector. The decision to pursue a conventional IPO route in 2025 indicates both market normalisation and improved financial resilience at eToro.
The firm’s latest IPO marks one of the largest for a fintech platform this year and may signal renewed interest in public listings among profitable technology companies.
