Cathie Wood’s California-based investment company, ARK
Invest, acquired about $9.4 million worth of eToro shares on Tuesday. The
purchase coincided with eToro’s debut on the Nasdaq stock exchange. ARK added
roughly 140,000 shares to its ARK Fintech Innovation ETF, which focuses on
companies in the financial technology sector, Coindesk reported.
eToro IPO Raises $620 Million
eToro began trading under the ticker symbol
“ETOR.” The
shares closed at $67, which was 29% higher than the IPO price of $52. This
gave the company a market value of more than $5.5 billion.
The trading platform and some of its backers raised nearly
$620 million through the IPO. The offering was upsized before listing. The
company had initially planned to sell 10 million shares. This was later
increased to 11.92 million shares. The final price was set above the expected
range of $46 to $50.
You may find it interesting at FinanceMagnates.com: eToro
IPO 10x Oversubscribed as Crypto Rebound Attracts Investors: Report.
Early Investor Sees Significant Return
One early investor, Spark Capital, saw a large return. The
firm invested $19 million in eToro fifteen years ago. That stake is now
estimated to be worth about $530 million.
eToro’s public debut attracted strong investor interest. The
offering and first-day trading reflect renewed activity in the IPO market.
Cathie Wood’s Ark Invest buys $9.4 million worth of eToro shares on Nasdaq debut, sells $7.9 million of its own Bitcoin ETF https://t.co/SGSaWNSMkP
— The Block (@TheBlock__) May 15, 2025
ARK Buys ARKB, Sells BITO Shares
Last year, Ark
has invested $15.9 million in ARK 21Shares Bitcoin ETF (ARKB) while selling
$15.8 million worth of shares in the ProShares Bitcoin Strategy ETF (BITO).
The firm purchased 365,427 shares of
ARKB through its Next Generation Internet ETF. The move follows ARK Invest’s
shift from the Grayscale Bitcoin Trust (GBTC) to BITO in December, ahead of
GBTC’s planned conversion into a spot Bitcoin ETF. CEO Wood previously cited
preference for an already approved product.
This article was written by Tareq Sikder at www.financemagnates.com.
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