EToro profits rise as commodities boom offsets crypto trading slump

EToro reported first-quarter net income of $82 million, up 37% from a year earlier, as a surge in commodities trading offset weaker crypto activity.

Net income rose 37% year-over-year to $82 million, compared to $60 million in Q1 2025, the company announced Tuesday. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) climbed 35% to $109 million, from $80 million a year earlier, while net contribution grew 19% to $258 million.

The upbeat results were driven largely by commodities trading, which accounted for roughly 60% of trading commissions in the quarter, with volumes up nearly fourfold year-over-year. The company also expanded its equities offering, adding Japanese stocks to bring its exchange coverage to 26 and activated its BitLicense to launch crypto trading in New York.

Net revenue and income. Source: EToro

Funded accounts grew 12% to 4.02 million, while assets under administration rose 15% to $17 billion. The company held $1.3 billion in cash, cash equivalents and short-term investments as of March 31.

Related: Deutsche Börse invests $200 million in Kraken parent Payward

Crypto trading volumes tumble

Despite the surge in commodities trading, crypto volumes took a hit. April data released alongside the earnings showed crypto trade volumes fell 32% year-over-year to two million trades, while the invested amount per trade dropped 22% to $207.

On the product side, eToro launched an AI-powered Agent Portfolios feature and deepened its partnership with xAI, embedding Grok 4.2-powered market sentiment into Tori, its AI investing agent.

EToro shares dip. Source: Yahoo! Finance

The company also closed its acquisition of Zengo, a self-custodial crypto wallet provider, on April 30, a move CEO Yoni Assia said advances eToro’s strategy of bridging traditional finance with on-chain infrastructure.

Assets under administration climbed further to $18.7 billion in April, up 19% year-over-year, while total money transfers for the month hit $1.4 billion, up 53%.

Related: Block Inc rises 8% as Q1 gives ‘earnings surprise’ despite Bitcoin dip

Crypto exchanges see lower trading volumes

As Cointelegraph reported, Coinbase posted a net loss of $394.1 million in Q1, its second straight quarterly loss, swinging from a $65.6 million profit a year earlier.

Revenue came in at $1.41 billion, missing analyst estimates of $1.5 billion, as transaction revenue slumped 40% and subscription and services revenue fell 13.5% year-over-year. Total crypto market cap and trading volume were both down more than 20% quarter-over-quarter.

Magazine: Guide to the top and emerging global crypto hubs — Mid-2026