eToro Dives into Active Stock Trading as Crypto Trades Plummet 73%

eToro's users executed 1.4 million crypto trades in July, down 73% from a year earlier. The average amount invested per trade halved to $182.

The platform agreed to pay consideration of up to $231 million for TradeZero, a US-focused brokerage serving active stock traders. This combination is consistent with eToro expanding from a profitable multi-asset base, not a company in broad distress.

eToro reported $1.346 billion of second-quarter cryptoasset revenue, but that was a gross figure rather than segment profit. The company also booked $1.354 billion of cryptoasset cost of revenue and $19.7 million of net trading income from cryptoasset derivatives.