Quick take:
- Previously, U.S. traders could only trade Bitcoin, Ethereum and Bitcoin Cash.
- The relisting follows eToro’s recent IPO, which saw the company raise $310 million, with certain shareholders also securing $310 million in the offer.
- It comes amid progress in the U.S. regulatory framework for digital assets.
eToro, the Israeli-based online trading platform has announced the relisting of 12 tokens for U.S. traders. The company had previously delisted multiple tokens following a settlement with the SEC last September.
The company now offers 15 tokens including the newly relisted Cardano, Dogecoin, XRP, and Shiba Inu among others. Since the company’s settlement with the SEC, U.S. traders could only trade Bitcoin, Bitcoin Cash and Ethereum.
Commenting on the announcement, Andrew McCormick, Head of eToro U.S, told Decrypt: “Of course, we did lots of diligence and research, and we thought with these 12, the time is now, especially in the wake of our IPO a few weeks ago, adding that there is “a lot of excitement, lots of opportunity, and we think it’s going to be [a] real win for customers.”
The relisting follows the company’s initial public offering on the Nasdaq, which raised $310 for eToro and an additional $310 million for existing shareholders. It also comes at a time when crypto regulation in the country seems to be headed in the right direction, spearheaded by Trump.
The company claims to have over 40 million registered users spread across 75 countries. However, in its pre-IPO filing, it said of its 3.5 million funded accounts, a majority are based in Europe and the UK. Crypto in particular has become a crucial part of eToro’s revenue, accounting for 38% of total commissions for the year 2024.
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