An Equity Token Offering (ETO) is a novel way of fundraising, which allows any kind of incorporated entity (blockchain-based or not) to issue Equity Tokens on the blockchain, in a public or private placement pre-approved by German BaFin.  ETOs represent a hybrid investment model, combining the advantages of an IPO, ICO and a VC round, while offering investors higher liquidity than traditional private investments and IPOs. 

Read about Equity Tokens here