eToro reported a surge in its crypto revenue, reaching $13 billion, even as it faced a 38% decline in quarterly crypto trading revenue compared to the previous year due to a downturn in Bitcoin’s price. CEO Yoni Assia noted that while crypto trading volumes have fallen, the firm has successfully pivoted to commodities, with a 43% increase in net income from equities and commodities. This strategic shift is in response to crypto-native traders now engaging more with commodities like gold and silver. Despite the current crypto market challenges, eToro remains committed to expanding its offerings, recently launching a non-custodial crypto wallet and planning additional products aimed at appealing to younger generations.
EToro reports $13B crypto revenue amid market downturn
