eToro Broadens Cryptocurrency Offerings in the U.S. Following Regulatory Settlement
In a significant expansion of its services, eToro, the online trading and investment platform, has recently introduced 12 new cryptocurrency options for its users in the United States. This move comes as eToro seeks to rejuvenate its growth strategy in the U.S. market following a period of regulatory adjustments that necessitated a reduction in its crypto asset offerings.
Among the newly available cryptocurrencies are notable names such as Cardano, Dogecoin, XRP, and Shiba Inu. These additions augment the platform’s portfolio, increasing the total count of cryptocurrencies available to U.S. customers from a mere three to a robust fifteen. The trio of previously available crypto assets—Bitcoin, Ethereum, and Bitcoin Cash—had remained post an agreement with the U.S. Securities and Exchange Commission (SEC) in 2024.
Andrew McCormick, the head of eToro U.S., expressed optimism about the expansion, tying it to the company’s broader ambitions, especially in the wake of its initial public offering (IPO) a few weeks prior. McCormick highlighted the diligent research and planning that preceded the decision to expand the cryptocurrency offerings, suggesting a strategic move to capitalize on the momentum generated by eToro’s public listing.
eToro is not a newcomer to the global financial landscape, boasting over 40 million registered users across 75 countries. Despite facing a temporary setback in the U.S. where its crypto operations were concerned, the platform has maintained its stature as a leading multi-asset trading platform. Indeed, cryptocurrency transactions constituted a significant portion of its trading commissions in the first quarter of 2025, underscoring the sector’s importance to eToro’s business model.
The expansion of eToro’s cryptocurrency line-up in the United States appears to follow a period of regulatory recalibration. In September 2024, the company reached a settlement with the SEC over allegations of operating as an unregistered broker-dealer and clearing agency in relation to offering cryptocurrencies deemed securities. eToro agreed to a $1.5 million penalty and significantly reduced its crypto offerings in the U.S. market, narrowing its focus to just three assets out of the previously available 74.
McCormick emphasized the voluntary nature of the settlement and elucidated on eToro’s commitment to adhere to regulatory expectations while ensuring the platform could dynamically adapt its offerings in response to the evolving landscape. The settlement not only addressed regulatory concerns but also strategically positioned eToro to broaden its asset offerings when deemed suitable.
This strategic shift comes at a time characterized by a more favorable regulatory environment under the Trump administration, providing an opportune moment for eToro to push forward with its growth ambitions in the U.S. The firm, headquartered in Israel, has embarked on an IPO roadshow earlier this month, aiming for a valuation of up to $4 billion, signaling a renewed impetus to cement and expand its presence in the U.S. financial market.
The broader availability of cryptocurrencies on eToro’s platform signals the company’s adaptive strategy in navigating regulatory challenges while seeking to leverage opportunities within the evolving digital asset sphere. As eToro positions itself for sustained growth in the U.S., the inclusion of additional cryptocurrencies serves as a testament to the platform’s enduring commitment to meeting the diverse needs and interests of its user base in a compliant manner.