Odaily Planet Daily News Yoni Assia, CEO of eToro, an online brokerage company that provides cryptocurrency and stock trading, said that the platform's cryptocurrency trading volume increased by more than 500% in November compared with the same period in 2023, indicating that retail investors are bullish.
“Every time bitcoin hits a new all-time high, we see a big uptick in customer engagement,” Assia said in an interview on the sidelines of Abu Dhabi Financial Week.

eToro first listed Bitcoin as a tradable asset 10 years ago. Since then, eToro has expanded the number of tokens on its platform to more than 120.
However, in September this year, the company settled with the U.S. SEC for $1.5 million and agreed to remove all cryptocurrencies accessible to U.S. customers except BTC, BCH, and ETH. The SEC accused the company of operating as an unregistered broker-dealer and clearing agency.

Assia added that the settlement does not prevent the company from listing assets in the U.S. again, especially if the incoming Trump administration relaxes cryptocurrency enforcement. “The settlement simply states that we cease trading, and we can restart trading depending on if there are any clear regulatory changes,” he said.

In addition, investors of another online brokerage company Robinhood also poured into the cryptocurrency market during the same period. The company said in a filing that platform trading volume increased by 400% from October to November. (DL News)

Earlier news, eToro is working with Goldman Sachs Group to prepare for an initial public offering in the United States. eToro is considering going public as early as the second quarter, but this timetable may change. The company said its listing valuation may be higher than the $3.5 billion achieved in private financing last year. People familiar with the matter said that details such as the timing of the issuance may change, and more banks may be added to the list. Previously, eToro attempted to go public at a valuation of $10.4 billion by merging with a special purpose acquisition company led by serial trader Betsy Cohen. The two parties agreed to terminate the transaction in 2022.