eToro, the Israel-based crypto and stock trading platform, has increased its initial public offering (IPO) to $620 million by pricing shares at $52 each, exceeding the expected range of $46 to $50. The offering includes over 11.92 million shares scheduled to begin trading on the Nasdaq under the ticker symbol ETOR on May 14. The IPO features 5.9 million shares sold by eToro and another 5.9 million by existing shareholders. This move positions eToro as a competitor to Robinhood Markets Inc., whose shares have gained over 67% year to date. Chime, a digital banking firm, is also planning to go public on Nasdaq but has yet to determine share quantity or price. Other crypto companies, including Kraken and Circle, are also considering IPOs, following the trend set by Coinbase in 2021, which was the first major cryptocurrency exchange to list publicly. eToro's IPO reflects growing interest in the market and the potential for expansion within the cryptocurrency sector.

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