eToro Completes Nasdaq Listing After Years of Delays

eToro has completed its listing on the Nasdaq Global Select Market, marking the end of a process that included multiple SPAC attempts, a withdrawn IPO, and a renewed direct offering.

The company priced its shares at the upper end of the guided range, giving it a market capitalisation in line with where analysts had pegged it after the last funding round. eToro enters the public markets with over 35 million registered users and a business that generates revenue primarily from spreads on CFDs and crypto trades.

What changes for users

Very little in the short term. eToro’s platform, fee structure, and account types remain unchanged. Existing users are not affected by the listing.

What does change is disclosure requirements. As a public company, eToro will now report quarterly financials that anyone can read. That includes trading volumes, user acquisition costs, churn rates, and operating margins — the data that has previously been disclosed selectively.

What to watch

The IPO puts pressure on management to demonstrate sustained profitability. eToro has historically operated at break-even or with thin margins, relying on growth to justify its valuation. As a public company, it now has earnings calls and activist shareholders to manage.

There is also a question of whether the listing prompts eToro to update its product — particularly the copy trading functionality that has remained largely unchanged for years.

For a detailed breakdown of eToro’s fees, platform, and regulatory standing, see our full eToro review.