Shares of the investment company eToro have risen by 29% since its debut on the Nasdaq stock exchange. The company recently went public and is valued at approximately $4.2 billion.
eToro sold almost 6 million shares in its initial public offering (IPO) at $52 and raised about $310 million. The closing price was $67. The equity and cryptocurrency trading platform became the first company to resume plans to go public after a number of other crypto companies, including Circle, postponed their IPOs due to market uncertainty.
The majority of eToro (ETOR) shares have been acquired by investment management company Ark Invest: 140,000 units. Ark Invest also bought 275,000 shares of 3Iq’s Solana ETF (SOLQ), worth just over $5.3 million, according to the closing price. Ark Invest has added eToro and Solana shares to its Fintech Innovation ETF (ARKF), one of three funds the firm uses to gain exposure to cryptocurrency and crypto-related companies such as Coinbase (COIN) and Robinhood (HOOD).
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