eToro Sees 30% Crypto Revenue Drop Amid Market Decline

eToro, a well-known financial and crypto trading platform, has reported a significant decline in its Q2 crypto revenue. The company's total net revenue rose 32% to $1.31 billion, but its cryptocurrency transaction revenue fell by 30% year-over-year to $100 million.

The decline is tied to the broader crypto market, which saw its third consecutive quarterly loss. Total crypto market capitalisation fell 12.6% quarter-over-quarter to $2.1 trillion, and spot trading volume on centralised exchanges dropped 27.9% to $1.95 trillion.

eToro has attempted to pivot by acquiring TradeZero, a US-focused online brokerage, for up to $231 million in cash plus 2.5 million newly issued Class A shares. This deal is expected to be completed in the first half of 2027, pending regulatory approvals.