XRP, DOGE, and SHIB Among Latest Cryptocurrency Additions on eToro (ETOR)

Trading platform eToro has enhanced its cryptocurrency offerings within the U.S. by introducing 12 new digital tokens, including Dogecoin, Cardano, and XRP, as announced on Wednesday.

With these additions, U.S. users now have access to a total of 15 cryptocurrencies. The newly listed assets encompass Aave, Chainlink, Compound, Ethereum Classic, Litecoin, Uniswap, Stellar, Shiba Inu, and Yearn Finance. Before this expansion, users in the U.S. could only trade Bitcoin, Bitcoin Cash, and Ethereum on the platform.

This initiative aligns with eToro’s strategy to strengthen its presence in the U.S. market, catering to retail investor demand while keeping pace with larger competitors such as Coinbase and Robinhood.

The announcement follows closely behind eToro’s initial public offering on Nasdaq, marking a significant milestone as the first U.S. cryptocurrency company to go public amid prevailing market uncertainties. Meanwhile, Circle, known for issuing stablecoins, filed for its own initial public offering recently.

Despite the challenging economic landscape, eToro’s IPO received a positive response, with the company securing approximately $310 million, exceeding expectations and indicating a strong market interest in the combined stock and crypto trading services.

On Wednesday, eToro’s stock price saw a slight decrease, trading at $64.15; however, it remains comfortably above the IPO valuation of $52.