Key Points:

• eToro reported that crypto trading represents 91% of its total revenue.
• In the second quarter, the exchange’s overall revenue reached $2.09 billion, with crypto contributing $1.91 billion.
• They are expanding their crypto offerings and planning to tokenize U.S. stocks on the Ethereum blockchain.

Crypto trading is central to eToro’s operations, accounting for a significant portion (91%) of their revenue in Q2. This is a slight decline from the previous quarter’s 93%, indicating minor growth in contributions from equities and other trading segments.

For the three months ending June 30, revenue from cryptoassets totaled $1.91 billion, affected by a net loss of $8.4 million from derivatives trading. After deducting the $1.88 billion cost associated with crypto revenue, digital asset trading formed the bulk of eToro’s total revenue, which stood at $2.09 billion.

In contrast, the first quarter saw crypto-related revenue spike to $3.5 billion, including an additional $77 million gain from derivatives, making up over 93% of the total revenue at that time. The company has intensified its focus on crypto, revealing plans to tokenize U.S. stocks to bolster their trading capabilities.