In 2024, eToro reported commissions of $931 million on net income of $192 million, rising from $639 million in commissions on net income of $15 million the year before. A big reason for that was an increase in crypto assets trading, which made up 38% of eToro’s commissions in 2024, more than doubling from 2023, according to its IPO filing.

Shares of eToro popped in their Nasdaq debut on Wednesday. The stock and crypto trading app raised almost $310 million in its IPO late Tuesday, selling shares above the expected range. IPOs looked poised for a rebound when President Donald Trump returned to office in January,