On April 1, 2026, trading platform eToro began offering crypto assets to its New York clients, more than three years after receiving its BitLicense from the New York State Department of Financial Services in February 2023. The rollout starts with approximately 20 tokens, with plans to expand the selection over time, according to Andrew McCormick, Head of eToro U.S.
In the other 74 countries and 47 U.S. states where eToro operates, the platform already offers around 115 crypto assets, along with stocks, ETFs, indices, currencies, and commodities. eToro also intends to introduce staking for New York users in the near future, pending regulatory approval of the updated business plan.
eToro was the first firm to receive a BitLicense after the collapse of FTX in late 2022. McCormick noted that the high-profile failure increased regulatory scrutiny during the approval process. “We were near the finish line when that happened, and as it should, it certainly increased the diligence,” he said. He described the approval as an honor, given the strict standards and the fact that fewer than 40 firms have ever been granted the license since its introduction in 2015.
McCormick admitted the three-year delay was longer than expected. “We knew it wouldn’t be ‘day one, flip a switch.’ We were looking at maybe that year to launch,” he explained. The company was also focused on its initial public offering last year and did not rush the New York launch during the previous administration, which he described as “not a friendly time to invest and grow in the world of crypto.”
New York remains one of the most stringent U.S. states for crypto businesses. eToro does not offer crypto services in Hawaii or Nevada. McCormick expressed hope that federal legislation, such as the Clarity Act, will eventually create a more uniform national framework. He prefers “B-plus legislation rather than none,” criticizing the current patchwork of 50 different state standards and outdated securities laws from 1933 and 1934.
The Clarity Act and related Senate proposals have faced delays due to debates over details, particularly around stablecoin yield and regulatory roles for the SEC and CFTC. McCormick believes clearer rules would benefit both innovation and consumer protection.
For New York residents, eToro’s rollout provides access to a growing selection of cryptocurrencies through a regulated platform with a strong compliance focus. Users can expect gradual expansion of available tokens and eventual staking features.
