What You Need to Know:
- eToro has introduced Dogecoin, Cardano, XRP, and 9 additional tokens to their U.S. platform.
- This month, the company secured $310 million in funding and made its public debut on Nasdaq under the symbol ETOR.
- Current share prices hover around $64, significantly above the initial offering of $52.
Trading platform eToro (ETOR) has broadened its range of crypto offerings in the United States, incorporating 12 new digital assets such as Dogecoin, Cardano, and XRP. The announcement was made this past Wednesday.
The total number of cryptocurrencies accessible to U.S. users now stands at 15. New additions include Aave, Chainlink, Compound, Ethereum Classic, Litecoin, Uniswap, Stellar, Shiba Inu, and Yearn Finance. Previously, users could only trade Bitcoin, Bitcoin Cash, and Ethereum on the platform.
This strategy signifies eToro’s ambition to extend its influence within the U.S. market and respond to retail interests while competitive with larger firms like Coinbase and Robinhood.
The timing of this announcement follows eToro’s recent public offering on Nasdaq, which marks a notable moment as the first U.S.-based crypto firm to do so amid recent trading pressures and volatile market conditions. Despite these challenges, eToro’s IPO drew significant interest, securing around $310 million in funding.
Shares have dipped slightly to $64.15, yet remain comfortably above the IPO price of $52.
