Cryptocurrency brokerage firm eToro has completed its IPO in the United States, raising nearly $3.1 billion

BlockBeats News, May 14th, according to Coindesk, eToro, a cryptocurrency and stock trading online brokerage company and a competitor of Robinhood, raised approximately $310 million in its U.S. initial public offering (IPO), priced above the previously announced range. The company issued 6 million shares at a price of $52 per share, valuing the company at $4.2 billion. Prior to this, funds under BlackRock had planned to purchase up to $100 million of eToro's shares at the IPO price.

The IPO filing shows eToro's projected net profit for 2024 is $192 million. The IPO is led by Goldman Sachs Group and others, and eToro's stock is expected to be listed on the Nasdaq Global Select Market under the code ETOR.