Denied: No Love for Bitcoin SV from eToro


The Bitcoin Cash hard fork has left many exchanges wondering how to handle the fallout. The eToro platform has decided not to support Bitcoin SV (BSV).

The dust is settling after the contentious hard fork of Bitcoin Cash. The fork resulted in the BCH blockchain splitting into Bitcoin SV (BSV) and Bitcoin Cash ABC, with the latter proving dominant. Proponents of BSV have to be disheartened with the latest news that the eToro trading platform will not support BSV at all.

No Love for Bitcoin SV

A recent announcement by eToro broke the news that the platform was not supporting the cryptocurrency. Instead, the platform will give a fiat credit to those who were holding the coin. The statement reads:

Although we’re not obligated to support forks, we are happy to announce that we decided to credit eToro clients who held long (BUY) non-leveraged Bitcoin Cash positions on November 15, 2018 at the amount specified below.

We are in the process of crediting relevant users’ accounts with the dollar value of Bitcoin Cash SV coins at a price of $92 multiplied by the number of Bitcoin Cash units held at the time of the fork.

The Bitcoin Cash hard fork has left exchanges trying to figure out how to handle the two new blockchains.

Indifference from Multiple Exchanges

It appears that eToro is hardly alone in not throwing their weight behind Bitcoin SV. Both Coinbase and Gemini have chosen not to list it, although some others do.

It does seem that Bitcoin ABC is winning the propaganda war in that a number of exchanges are labeling Bitcoin ABC as Bitcoin Cash (BCH) on their platforms.

With all that being said, this is not the end for BSV. The coin is still ranked in the top ten (coming in at number nine). It is currently trading for $86.66 (a drop of 2.56 percent over the last 24 hours) and has a market cap of just over $1.5 billion.

What do you think of eToro not supporting Bitcoin SV? Let us know in the comments below.

Images courtesy of Shutterstock, AdobeStock, and Twitter/@eToro.


Please enter your comment!
Please enter your name here