Market News

eToro Expands Crypto Offerings with Dogecoin and More Following SEC Settlement

Online trading platform eToro has recently announced the addition of 12 cryptocurrencies to its U.S. platform.

This expansion follows a significant regulatory setback last year and is intended to enhance its digital asset offerings.

Among the newly available cryptocurrencies are popular tokens such as Dogecoin, XRP, and Shiba Inu, increasing the total listed assets from three to 15.

After settling a case with the U.S. Securities and Exchange Commission (SEC), eToro previously streamlined its offerings, now reintroducing a wider range of tokens.

Andrew McCormick, Head of eToro U.S., expressed optimism about the new additions, emphasizing the potential benefits for customers.

eToro, which serves over 40 million users across 75 countries, is eyeing further growth in the U.S. market, underpinned by a recent IPO push.

The company aims for a valuation of up to $4 billion as it capitalizes on a more welcoming regulatory environment.

The SEC settlement, which required eToro to pay a $1.5 million penalty, has allowed the firm more flexibility in its asset offerings moving forward.

McCormick clarified that the settlement was voluntary, and while some assets were removed, it opened the door for new listings when deemed appropriate.

With cryptocurrencies contributing to 37% of its trading commissions, this expansion marks a strategic moment for eToro as it seeks to leverage renewed opportunities.