Cryptocurrency and FX trading platform eToro is expanding into non-fungible tokens with a $20m fund to launch eToro.art, which it said would be used to purchase both “blue chip” NFTs and provide seed funding to emerging creators and NFT projects.

“As a company with one eye constantly on 'what's next', eToro sees huge potential in the metaverse and a range of new digital assets," chief executive Yoni Assia said in a statement on 7 April.