Cathie Wood’s ARK buys $9.4 million of red-hot eToro IPO in debut

Published 15/05/2025, 13:28
© Reuters

Investing.com -- Cathie Wood’s ARK disclosed it purchased 140,000 shares of brokerage firm eToro Group Ltd (NASDAQ:ETOR) on Wednesday, which had its initial public debut.  Shares were acquired through the ARK Fintech ETF.  Based on Wednesday’s closing price, the purchase is worth $9.38 million.

eToro had a spectacular public debut on Wednesday.  After pricing its IPO at $52 per share, above the expected $46-$50 range, shares opened at $69.69 and closed at $67, up 29%.  The IPO size was upsized from 10 million shares to 11.9 million shares.

Based on Wednesday’s closing price, eToro’s market capitalization is $5.5 billion.

ARK is no stranger to the space and has been a holder of both eToro rivals Robinhood Markets Inc (NASDAQ:HOOD) and Coinbase Global Inc (NASDAQ:COIN).  In fact, the two rival stocks are the second and third largest holdings in ARK’s Fintech ETF.

eToro ended 2024 with 3.5 million funded accounts in 75 countries and saw net income surge 1,161% in the year to $192 million.  The company offers stock and option trading and was a pioneer in crypto trading.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.