As you may have seen, trading platform and Robinhood rival, eToro, is set to go public via SPAC with an estimated $10B valuation.
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With eToro a longtime platform for crypto trading, there is considerable speculation as to whether the platform can convert the boom in retail trading brokerages are currently witnessing to crypto assets.
With this in mind, the following is a comment from David Wachsman, a thought leader in the blockchain industry and CEO and Founder of Wachsman, a strategic consultancy specialized in emerging technologies.
eToro To Go Public Via A SPAC
David Wachsman, CEO and Founder of Wachsman, commented:
“The news that eToro will go public via Special Purpose Acquisition Company (SPAC) is a major development for the crypto industry. Viewed in conjunction with imminent public listings for other major crypto firms Coinbase and Coinshares, the news clearly indicates the maturity of the blockchain industry, as well as the considerable appetite from investors for access to the industry.
The GameStop trading phenomenon is a clear sign that retail interest in trading is at an all time high, and platforms such as eToro which cater to this demand are likely to grow significantly in the coming months. Given the change in perception around crypto assets prompted by the wave of institutional and corporate adoption of Bitcoin, I expect to see retail investment in crypto assets follow the lead of institutions. The growing number of on-ramps to the asset class via eToro, PayPal and other platforms indicate that retail adoption is likely to accelerate rapidly, with retail volumes far eclipsing the previous retail highs we saw in 2017/2018."
