eToro Refuses to Support Bitcoin SV, Will Pay Bitcoin Cash Holders in Fiat

Marco Verch / Flickr

Tel Aviv-based trading app eToro has presented a unique offer to investors who held Bitcoin Cash (BCH) through the November hard fork that resulted in the creation of Bitcoin SV (BSV).

According to a recent announcement, eToro isn’t going to support the Bitcoin SV chain and, instead of distributing BSV to users who held BCH during the fork, the company will be paying out the fiat equivalent.

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

This is definitely a win for Bitcoin Cash holders, who have largely suffered from a lack of clarity from major exchange regarding the outcome of the hard fork. While some exchanges like Binance and Bittrex are currently supporting Bitcoin SV, others including Coinbase and Gemini are still holding out.

BSV is currently up 10.5% over the last 24 hours to $92.01, giving the fork a $1.61 billion market cap and making it the 8th largest coin in the AltDex 100 Index (ALT100).

More: News for BCH Holders
Photo: Marco Verch / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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