Cathie Wood wasted no time jumping on eToro’s public debut. ARK Invest moved fast and scooped up a hefty stake in the newly listed trading platform. According to reports, ARK’s Fintech Innovation ETF (ARKF) bought 140,000 shares of eToro (ETOR) on Wednesday. The purchase was valued at almost $9.4 million at eToro’s closing price of $67.
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eToro Stock Rockets On Nasdaq Debut
eToro did not creep quietly onto the Nasdaq. It arrived with fireworks. The company priced its IPO at $52, already above the expected range of $46 to $50. ETOR shares then surged nearly 29% to close at $67 on day one. The IPO raised an impressive $620 million by selling 11.9 million shares. The demand for ETOR shares ran far hotter than early forecasts suggested.
ARK Doubles Down On Fintech And Crypto
Cathie Wood showed her hand again. ARKF already holds Coinbase (COIN) and Robinhood (HOOD), and eToro fits squarely into that playbook. The trading platform combines commission-free stock trading with cryptocurrency services and social trading features. It is a natural addition to ARK’s strategy of betting on disruptive platforms. The move signals strong conviction that eToro could become a major player.
eToro Delivers Big Growth Before IPO
The numbers tell the real story. eToro now serves more than 40 million users across 75 countries. Revenue exploded in 2024, hitting $12.64 billion compared to $3.89 billion the prior year. Net income soared to $192.4 million, up from just $15.3 million in 2023. That explosive growth helped turn eToro’s IPO into one of the biggest fintech debuts in recent years.
eToro’s crazy first day may only be the opening act. The fintech IPO market has been frozen for months. eToro’s runaway debut could throw open the floodgates for others waiting in the wings. Traders will be waiting to see if ARK’s big early bet turns into another signature win for Cathie Wood. If history holds true, ARK will sit tight and let the long-term trend do the heavy lifting.