Toro (NASDAQ:ETOR) shares surged 29% in their first day of trading on the Nasdaq after the Israeli stock and crypto trading app raised some $310M in an initial public offering that priced above its expectations.

The fintech company files to go public as eToro makes its trading debut. The deals will test the strength of the IPO market.

Toro, the Israel-based trading platform, has secured a valuation of $5.64 billion after an impressive Nasdaq debut.

The trading platform’s stock is on a run in its first day of trading, elevating hopes for other stock-market debuts.

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%.

The closing bell is ringing until the cows come home, signaling the end to another trading day on Wall Street. Josh Lipton and Madison Mills recap the session's top trading themes while speaking to Wall Street experts and breaking the latest earnings results.

Within the span of a few hours on Tuesday, eToro priced its IPO above its initial range and Chime filed an S-1, setting the stage for its own listing.