eToro to Target New York Crypto Market After Three-Year Wait

eToro will launch crypto trading in New York on April 1, 2026, ending a three-year strategic delay following its BitLicense approval.

According to information shared by The Block, the move comes nearly three years after the company received the so-called BitLicense from the New York State Department of Financial Services. This license permits operations with crypto assets, but its actual utilization was delayed due to the unfavorable regulatory environment following the FTX collapse and subsequent regulatory pressure.

Starting April 1, 2026, New York residents will finally be able to trade approximately 20 cryptocurrencies on the eToro platform, alongside stocks, ETFs, and options. This expansion covers the last major state where the company lacked access, opening doors to over 9 million potential users.

Three-Year Wait and Regulatory Shift

The delay was strategic rather than technical. According to eToro management, the company consciously chose not to activate its license during the Joe Biden administration, a period when regulatory pressure on the crypto industry was at its peak.

The BitLicense remains one of the strictest regimes for crypto operators in the United States, with fewer than 40 companies receiving approval since its inception in 2015. To meet these requirements, eToro built a robust compliance infrastructure, including capital buffers, AML systems, and consumer protection mechanisms.

However, the company was forced to limit its U.S. offerings following a settlement with the SEC in 2024, which temporarily narrowed its crypto product suite to just a few core assets.

Now, the platform is launching in New York with a restricted list of approximately 20 approved cryptocurrencies—significantly fewer than the 100+ assets it offers in other markets. This reflects the NYDFS approach, which requires individual approval for every token.

In parallel, the company is in active discussions with the regulator regarding the provision of staking services—a key feature for attracting more active crypto investors.

Part of a Broader Market Transformation

eToro’s entry into New York coincides with a broader shift in the U.S. regulatory and institutional environment.

Coinbase has signaled that legislation regarding crypto market structure is nearing finalization, which could resolve the jurisdictional uncertainty between various regulators.

For eToro, access to New York is more than just a geographic expansion; it is a strategic positioning at a time when the world’s largest financial market is beginning to reopen its doors to digital assets.

Nevertheless, challenges persist. The limited asset list, ongoing regulatory negotiations, and an uncertain macroeconomic environment suggest that growth may not be uniform. However, after years of waiting, eToro now has access to a market that was recently practically closed.

In an environment of increased volatility and uncertainty, choosing secure asset storage is becoming increasingly vital for investors. You can read more on this topic in the analysis “Best Crypto Wallets for 2026”, which explores solutions for protecting and managing digital assets.