Retail trading giant eToro has officially joined Nasdaq, pricing its IPO at US$52 per share, exceeding its expected range of $46-$50.
The Israel-based brokerage raised $620 million, with shares sold by both the company and existing investors. This move values eToro at $4.2 billion, marking a significant milestone for the fintech sector as investor confidence rebounds. With a growing user base and surging crypto revenues, the company is positioning itself as a formidable competitor to Robinhood and Webull.
The timing of eToro’s public offering is strategic. After shelving its IPO plans in 2022 due to market volatility, the company seized the opportunity as inflation cooled and investor sentiment improved. The return of United States President Donald Trump and easing tariff concerns have helped revive the IPO market, with eToro following the successful listing of CoreWeave earlier this year. BlackRock’s interest in purchasing $100 million worth of shares further underscores institutional confidence in eToro’s growth trajectory.
Founded in 2007, eToro has evolved from a stock brokerage into a crypto-heavy trading platform, with digital assets now accounting for 25% of its net trading contribution, up from 10% the previous year. The company’s 2024 net income surged to $192.4 million, reflecting strong user engagement and a booming retail trading landscape. With 3.5 million funded accounts across 75 countries, eToro’s global expansion is well underway, reinforcing its position as a leader in democratised investing.
As eToro enters the public markets, its performance will serve as a litmus test for upcoming fintech IPOs, including Klarna and Chime. The company’s ability to sustain momentum amid evolving regulatory landscapes and crypto volatility will be closely watched. With Nasdaq now hosting one of the most ambitious fintech players, eToro’s success could pave the way for a new wave of retail trading platforms seeking public capital.
Chime’s Nasdaq IPO marks a fintech milestone
Chime, the U.S.-based financial technology company, has officially filed for an IPO on the Nasdaq under the ticker symbol CHYM. The firm, valued at $25 billion, is preparing for one of the most anticipated fintech listings of the year. Chime reported $518.7 million in revenue for the first quarter of 2025, a 32% increase year-over-year, while net income narrowed to $12.9 million. Unlike traditional banks, Chime operates as a technology company, generating revenue primarily from interchange fees on debit and credit card transactions. The company serves 8.6 million active members, with two-thirds relying on Chime as their primary financial relationship.
The IPO comes amid a recovering market for public offerings, following a slowdown due to tariff uncertainty and inflation concerns. Chime had previously delayed its listing alongside fintech peers eToro, Klarna, and StubHub, but renewed investor appetite has prompted its move to go public. The company has assembled a high-profile group of underwriters, including Morgan Stanley, Goldman Sachs, and JPMorgan Chase, signalling strong institutional backing. Chime’s success could pave the way for other fintech firms seeking public capital, as investors assess the viability of digital banking models in a competitive financial landscape.
Some of the biggest IPOs listing on the NASDAQ in May 2025:
- eToro Group – Expected IPO price range: $46-$50, with 10 million shares offered, aiming to raise $480 million.
- Gores Holdings X – Expected IPO price: $10, with 31.2 million shares, targeting $312 million.
- Aspen Insurance Holdings Limited – Expected IPO price range: $29.00 - $31.00, with 11 million shares, aiming for $330 million.
- Cantor Equity Partners II – Expected IPO price: $10, with 24 million shares, targeting $240 million.
- Cartesian Growth Corporation III – Expected IPO price: $10, with 24 million shares, targeting $240 million.
- CoreWeave – A cloud computing firm catering to AI workloads. CoreWeave lowered its offering price to $40 from an initial expected pricing range of $47 to $55 range. It also downsized the offering to 37.5 million shares from 49 million.
Upcoming IPOs set to list on the NASDAQ between June and December 2025:
- Chime – A mobile banking firm valued at $25 billion, expected to be a major fintech IPO.
- Klarna – A buy-now-pay-later company with a valuation of $6.7 billion, planning a U.S. listing.
- Medline Industries – A healthcare supply giant with strong revenue growth.
- SailPoint Technologies – A cybersecurity firm specialszing in identity management.
- Cerebras Systems – An AI hardware company focused on high-performance computing.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.