eToro will be limiting ADA and TRX for users in the US. These US users will no longer be able to open new positions in, or receive staking rewards for, Cardano (ADA) and TRON (TRX). You will still be able to close existing positions as you see fit.
When will this take effect?
Users will not be able to open new ADA or TRX positions starting on December 26, 2021. Additionally, staking for those assets will end on December 31, 2021. These changes are due to business-related considerations in the evolving regulatory environment.
How will this affect investing in Cardano and TRON?
- You will still be able to securely hold existing positions of Cardano (ADA) and Tron (TRX).
- You can close positions at any time — meaning you can still sell your ADA and TRX on eToro and receive USD.
- Staking rewards will no longer be offered to US users for both assets, with the final reward payout going to users on January 15, 2022. This reward will be paid in USD.
We are only limiting users from opening new positions. We are not forcing users to sell any existing positions.
Can I move my ADA and/or TRX assets to the eToro Money crypto wallet?
We are working on making the eToro Money crypto wallet compatible with these two assets. We will make an announcement when this happens — it should come early 2022. We will notify US users once this functionality becomes available.
What if I’m invested in a Smart Portfolio that contains Cardano and/or TRON?
If you are invested in a Smart Portfolio that includes these assets, they will be converted to open positions in your personal portfolio, available to be held or closed at your discretion.
I’m copying someone who’s holding Cardano and/or TRON. What will happen to those positions?
If you are copying someone who holds ADA and TRX in their portfolio, it is up to their discretion on how they want to handle these holdings. They may opt to sell their holdings — if this should happen, your copy holdings would also be sold, as is standard whenever someone you’re copying sells their holdings. Users, including US Popular Investors, will not be able to open any new ADA and TRX holdings after the limitation is implemented. Any remaining holdings will be removed from the CopyTrader portfolio and replaced with an open position in your personal portfolio in early 2022.
Will I be able to close (sell) my existing ADA and TRX holdings?
Yes, for the time being all US users can sell their holdings and receive USD. However, in Q1 of 2022 we will limit the selling of holdings as well. This will not happen for at least 30 days after we offer support for redeeming your ADA and TRX coins to the eToro Money crypto wallet. We will notify you before this happens.
Will eToro force the selling of my ADA or TRX holdings?
We have no plans to force the selling of your holdings.
What happens to my ADA or TRX positions after I am no longer able to sell them?
You will still be able to send your ADA and TRX holdings to the eToro Money crypto wallet even when you can no longer sell the holdings for USD.
What if my ADA and/or TRX holdings are less than the minimum redeemable amount?
If the amount of a single position is less than the minimum redeemable amount, then you will need to sell those positions for USD before we limit the ability to close them. We will inform you by email and update the blog post when we have the date.