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NEW YORK - Trading platform eToro Group Ltd. (NASDAQ:ETOR), a $5.32 billion market cap company that has seen a notable 10.22% return in the past week, announced plans to expand its trading hours and introduce tokenized U.S.-listed equities as part of its strategy to move toward a tokenized future. According to InvestingPro analysis, the company maintains strong financial health with a GOOD overall rating.
The company revealed in a webinar on Tuesday that it will offer 24/5 trading for an initial list of 100 popular U.S.-listed stocks and ETFs as the underlying asset. This expansion allows users to trade outside traditional market hours. With a healthy P/E ratio of 7.55 and strong liquidity indicated by a current ratio of 3.51, eToro appears well-positioned for this expansion.
eToro has also introduced spot-quoted futures in collaboration with CME Group, currently available in select European markets with plans for broader rollout. These contracts offer futures trading with spot-based pricing and longer-dated expiries.
"We want to offer our global user base the flexibility to trade on their time-frame," said Yoni Assia, Co-founder and CEO of eToro, according to the press release.
The company also announced plans to launch U.S.-listed equities as ERC20 tokens on the Ethereum blockchain, building on its previous tokenization efforts. In 2019, eToro launched tokenized gold and silver alongside several fiat currencies following its acquisition of Danish token startup Firmo. InvestingPro subscribers can access additional insights and 6 more ProTips about eToro’s financial outlook and market position.
Assia stated that the company’s goal is to eventually tokenize every asset on eToro, starting with stocks, enabling users to move tokenized assets onto the blockchain and integrate them into the broader decentralized finance ecosystem.
The announcement comes as regulatory developments, including MiCA in Europe and the Genius Act in the U.S., create new opportunities for tokenization of real-world assets.
eToro, founded in 2007, currently has 40 million registered users from 75 countries, according to the company’s press release statement.
In other recent news, eToro Group Ltd. announced the successful closure of a new three-year $250 million senior unsecured revolving credit facility, which remains undrawn and is intended to enhance the company’s financial flexibility for strategic growth. Canaccord Genuity reiterated a Buy rating with a $78 price target on eToro stock, highlighting the platform’s growth potential and steady performance following its public debut. Deutsche Bank also initiated coverage with a Buy rating and a $70 price target, citing eToro’s unique market position due to its social trading and investing platform. Cantor Fitzgerald set an Overweight rating with an $84 price target, acknowledging eToro’s significant market share in key European countries. Additionally, eToro will host a webinar titled "eToro Unlocked: Trade Without Boundaries" to showcase recent product developments and upcoming features. These developments reflect the company’s ongoing efforts to strengthen its market presence and growth trajectory.
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