eToro (Nasdaq: ETOR) reported a notable increase in stock price on Monday, with a 76% year-over-year growth in assets under management, reaching $20.8 billion for Q3. The platform also announced a $150 million share buyback initiative.

The company highlighted a 28% increase in net contribution, climbing to $215 million, up from $167 million last year. According to GAAP standards, net income jumped 48%, totaling $57 million compared to $39 million from the previous year, while funded accounts witnessed a 16% increase, hitting 3.73 million.

The stock surged approximately 7% during intraday trading on Nasdaq.

In October, eToro recorded 5 million cryptocurrency trades, marking an 84% rise from the same time last year, with the average trade amount increasing 52% to $320. Interest-earning assets climbed to $8.7 billion, a 55% year-over-year increase.

The firm anticipates launching a crypto wallet, giving users access to prediction markets, tokenization, and lending features in the coming quarters.

Co-founder and CEO Yoni Assia stated the focus is on innovation and product development, citing the launch of Tori, an AI-driven analyst for personalized investment insights.

In September 2024, eToro had to halt trading of several cryptocurrencies in the US following a settlement with the SEC, agreeing to pay $1.5 million over allegations of operating an unregistered brokerage via its crypto platform. This year, US government perspectives on digital assets shifted positively, with President Donald Trump promoting the nation as a hub for crypto and AI innovation. SEC Chair Paul Atkins remarked that “most crypto tokens are not securities” in a recent statement.