Robinhood-rival eToro secured a valuation of $5.64 billion after its shares gained 34% in their Nasdaq debut on Wednesday, signaling a strong IPO market recovery after several U.S. listings were shelved due to tariff uncertainty.

Shares of stock brokerage and crypto trading platform eToro closed 29% higher on Wednesday following its Nasdaq debut, settling around $67.

Shares of trading platform eToro surged nearly 29% in their Nasdaq debut, closing at $67 after opening well above the IPO price. The company raised approximately $310 million by selling nearly 6 million shares at $52 each, topping its initial price range.

Toro Group is planning to raise around $620 million in an upsized U.S. initial public offering (IPO) priced above market range, the company said on Tuesday.

Shares of eToro ( ETOR 30.96%) are soaring in their trading debut on Wednesday. The stock and crypto trading platform's shares surged 28.2% as of 2:20 p.m. ET after opening at $69.69, which was 34% above its initial public offering (IPO) price of $52. The impressive debut comes as the S&P 500 was flat while the Nasdaq Composite gained 0.5%.

EToro Group Ltd. and some of its shareholders raised nearly $620 million in an upsized US initial public offering priced above the marketed range.