eToro to Acquire TradeZero Amid Crypto Revenue Decline

eToro plans to acquire US online brokerage TradeZero as part of its push to expand in the US financial market. The acquisition is expected to close in the first half of 2026 and be accretive to adjusted earnings per share in the first year post-close.

In its second-quarter update, eToro reported $1.59 billion in revenue for the quarter, down from $2 billion in the comparable 2025 period. Crypto revenue declined sharply year over year, with eToro reporting $1.34 billion in crypto-related revenue and a net income of $19.7 million from crypto assets.

eToro's finance leadership argued that user behavior supports its multi-asset strategy, citing data showing that more than 60% of users who traded commodities later traded equities, and nearly nine in ten also traded crypto on eToro.