Tech Stock Roundup: eToro, Vinanz Eye New York Listing, Coinbase Promoted to S&P 500

Key Takeaways

• eToro priced the IPO at $52 per share, valuing the company at $4.26 billion before the listing in New York.
• Vinanz may follow suit after raising $4 million to boost Bitcoin acquisition.
• Coinbase will be the first crypto firm to debut on the S&P 500.

From IPO ambitions to blue-chip index inclusions, the line between Wall Street and the blockchain world is blurring fast.

Last week marked a turning point, with high-stakes listings, funding moves, and a milestone that cements crypto’s seat at the financial table.

eToro Prices Shares for New York IPO

eToro Group Ltd. aims to raise $500 million through a U.S. IPO, following a previous pause due to market volatility.

The exchange priced its IPO at $52 per share, raising $620 million by selling 11.92 million Class A shares—half new and half from existing shareholders.

Strong demand led the firm to increase from the original 10 million shares to $46–$50 per share, valuing eToro at $4.26 billion.

Shares will debut on Nasdaq under the ticker ETOR , with closing expected on May 15. Underwriters have a 30-day option to purchase an additional 1.79 million shares.

Goldman Sachs, Jefferies, UBS, and Citigroup are leading the offering.

eToro had previously attempted to go public via a SPAC merger at a $10.4 billion valuation.

In 2024, it reported $787 million in net contribution and $192 million in net income, up from $3.5 billion in 2023. 

BlackRock-managed funds may purchase up to $100 million in shares. 500,000 shares are allocated to a directed share program. Major backers include Spark Capital, BRM Group, and SoftBank Vision Fund 2.

Vinanz Raises $4 Million

With Bitcoin’s (BTC) mainstream momentum and a potential NASDAQ debut, London-listed miner Vinanz is accelerating its North American expansion and boosting its Bitcoin reserves.

The company secured up to $4 million from a global investment manager via U.S. bankers Dominari Securities.

The first $2 million, which it has already received, supported asset growth before its planned NASDAQ dual listing. The second tranche is contingent on certain conditions.

The loan carries 5% annual interest and is repayable within 12 months.

Chairman David Lenigas called the funding timely, enabling Vinanz to deploy capital into Bitcoin quickly. The company is exploring all funding avenues in a fast-moving market.

In April, Vinanz appointed Dominari and Lucosky Brookman LLP to guide its planned U.S. listing. NASDAQ has already reserved the ticker BTCR.

Coinbase: First Crypto Stock To Join S&P 500

Despite a recent downtrend, Coinbase’s COIN stock joined the S&P 500 on May 19, replacing Discover Financial Services, which Capital One acquired.

CFO Alesia Haas called it a significant milestone for Coinbase and the broader crypto industry, marking the first crypto firm in the S&P 500.

“It reflects how far the industry has come,” she said, crediting customers, partners, and employees.

Coinbase also revealed it was targeted in a $20 million ransomware attack. Hackers accessed customer data by bribing overseas support staff, but no passwords, private keys, or funds were compromised.

The exchange rejected the ransom and offered a $20 million bounty for information leading to arrests.

CEO Brian Armstrong emphasized transparency and announced efforts to improve internal security, limiting support staff access to sensitive data. Affected customers will be reimbursed.

The breach comes amid a rise in cyberattacks targeting crypto firms. Chainalysis reported  $2.2 billion stolen in 2024, up 21% from last year. While DeFi remains a top target, attacks on centralized platforms like Coinbase are increasing.

Last week, COIN shares gained 34% in New York, closing the week with a 9% rise on Friday, at only $266.46 per share.