eToro has
added 19 cryptoassets to its trading platform, pushing its total digital asset
menu past 200 names. The new listings include DoubleZero (2Z), Avantis (AVNT),
Virtuals Protocol (VIRTUAL), MemeCore (M), Horizen (ZEN), Venice Token (VVV),
Illuvium (ILV), Safe (SAFE) and ZetaChain (ZETA), the Nasdaq-listed company
said today (Thursday).
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APAC brokers you know (and those you still don’t!)
The Israeli
fintech, which became publicly traded in May 2025, frames the rollout as part
of its broader effort to widen retail investor access to digital assets within
what it markets as a multi-asset platform sitting alongside thousands of
stocks, ETFs, indices, currencies and commodities.
The new
tokens come on top of an existing menu that already covered more than 150
cryptoassets at year-end 2025, according to the company’s full-year 2025 results.
Adi Lasker-Gattegno, eToro’s Director of Liquidity Management and Crypto Operations
Adi
Lasker-Gattegno, eToro’s Director of Liquidity Management and Crypto
Operations, said in a statement that “passing the 200 cryptos milestone is
a significant moment for eToro,” adding that the goal is to give users
more ways to engage with the crypto market within the company’s multi-asset
platform.
However, the
expansion lands at an awkward moment in eToro’s product cycle. The platform spent much of
the past year openly steering clients toward traditional markets, after
disclosures around its IPO highlighted the extent to which its economics are
tied to crypto trading flows.
The scale
of that exposure is visible in eToro’s revenue reporting, though it requires
some unpacking. Under IFRS 15, eToro records crypto transactions on a gross
basis, meaning it books both the full value of assets sold to users and the
corresponding acquisition cost as separate line items.
The result
is a headline revenue figure that is inflated relative to actual economic
contribution. For the full year 2025, eToro reported roughly $12.9 billion in
gross crypto revenue against $12.9 billion in costs, out of a total $13.8
billion in gross revenue (94%). On a net basis, crypto accounted for
approximately 29% of eToro’s $868 million net contribution.
Source: SEC
When
eToro rolled out a
cashback program offering
UK and European users 1% back in stocks for converting crypto, the contrast
between gross scale and net margin was particularly stark: in Q3 2025, $3.97
billion in gross crypto revenue translated into just $77.4 million in net
contribution.
Crypto Activity Has Cooled
in 2026
The push to
add more tokens follows a notable slowdown in crypto trading on the platform.
eToro’s full-year 2025 results showed crypto income declined from 2024 levels,
which the firm attributed to lower retail trading volumes and reduced market
volatility.
The pattern
has continued into the new year. In February, the company reported that crypto
trades dropped 36% year-over-year to 3.3 million, even as capital markets activity surged 81%.
That mix
shift has not gone unnoticed by investors. eToro shares are down roughly 50%
from their May 2025 Nasdaq debut at $67, even after the company posted record
net contribution of $868 million for 2025.
As FM Intelligence has documented, much of the market’s caution has
centered on the firm’s reliance on retail crypto sentiment and the thin
economics of cryptocurrency intermediation. In Q3 2025, eToro turned $3.97
billion in crypto revenue into
just $77.4 million in net contribution.
Custodial and
Non-Custodial, With Regional Caveats
eToro said
the new tokens can be bought, sold, held, deposited, transferred and converted
on its platform, with staking available for eligible assets. The firm offers
both custodial and non-custodial wallet options, though it noted that token
availability and feature support vary by region and remain subject to local
eligibility rules.
The company
reported 40 million registered users across 75 countries and roughly 3.8
million funded accounts at the end of 2025.
Beyond crypto, eToro has also pushed into
UCITS/ETFs,
neo-banking features and discussions with Kalshi and Polymarket on prediction
markets, all part of a wider effort to broaden the revenue base beyond digital
assets.
eToro has
added 19 cryptoassets to its trading platform, pushing its total digital asset
menu past 200 names. The new listings include DoubleZero (2Z), Avantis (AVNT),
Virtuals Protocol (VIRTUAL), MemeCore (M), Horizen (ZEN), Venice Token (VVV),
Illuvium (ILV), Safe (SAFE) and ZetaChain (ZETA), the Nasdaq-listed company
said today (Thursday).
Singapore Summit: Meet the largest
APAC brokers you know (and those you still don’t!)
The Israeli
fintech, which became publicly traded in May 2025, frames the rollout as part
of its broader effort to widen retail investor access to digital assets within
what it markets as a multi-asset platform sitting alongside thousands of
stocks, ETFs, indices, currencies and commodities.
The new
tokens come on top of an existing menu that already covered more than 150
cryptoassets at year-end 2025, according to the company’s full-year 2025 results.
Adi Lasker-Gattegno, eToro’s Director of Liquidity Management and Crypto Operations
Adi
Lasker-Gattegno, eToro’s Director of Liquidity Management and Crypto
Operations, said in a statement that “passing the 200 cryptos milestone is
a significant moment for eToro,” adding that the goal is to give users
more ways to engage with the crypto market within the company’s multi-asset
platform.
However, the
expansion lands at an awkward moment in eToro’s product cycle. The platform spent much of
the past year openly steering clients toward traditional markets, after
disclosures around its IPO highlighted the extent to which its economics are
tied to crypto trading flows.
The scale
of that exposure is visible in eToro’s revenue reporting, though it requires
some unpacking. Under IFRS 15, eToro records crypto transactions on a gross
basis, meaning it books both the full value of assets sold to users and the
corresponding acquisition cost as separate line items.
The result
is a headline revenue figure that is inflated relative to actual economic
contribution. For the full year 2025, eToro reported roughly $12.9 billion in
gross crypto revenue against $12.9 billion in costs, out of a total $13.8
billion in gross revenue (94%). On a net basis, crypto accounted for
approximately 29% of eToro’s $868 million net contribution.
Source: SEC
When
eToro rolled out a
cashback program offering
UK and European users 1% back in stocks for converting crypto, the contrast
between gross scale and net margin was particularly stark: in Q3 2025, $3.97
billion in gross crypto revenue translated into just $77.4 million in net
contribution.
Crypto Activity Has Cooled
in 2026
The push to
add more tokens follows a notable slowdown in crypto trading on the platform.
eToro’s full-year 2025 results showed crypto income declined from 2024 levels,
which the firm attributed to lower retail trading volumes and reduced market
volatility.
The pattern
has continued into the new year. In February, the company reported that crypto
trades dropped 36% year-over-year to 3.3 million, even as capital markets activity surged 81%.
That mix
shift has not gone unnoticed by investors. eToro shares are down roughly 50%
from their May 2025 Nasdaq debut at $67, even after the company posted record
net contribution of $868 million for 2025.
As FM Intelligence has documented, much of the market’s caution has
centered on the firm’s reliance on retail crypto sentiment and the thin
economics of cryptocurrency intermediation. In Q3 2025, eToro turned $3.97
billion in crypto revenue into
just $77.4 million in net contribution.
Custodial and
Non-Custodial, With Regional Caveats
eToro said
the new tokens can be bought, sold, held, deposited, transferred and converted
on its platform, with staking available for eligible assets. The firm offers
both custodial and non-custodial wallet options, though it noted that token
availability and feature support vary by region and remain subject to local
eligibility rules.
The company
reported 40 million registered users across 75 countries and roughly 3.8
million funded accounts at the end of 2025.
Beyond crypto, eToro has also pushed into
UCITS/ETFs,
neo-banking features and discussions with Kalshi and Polymarket on prediction
markets, all part of a wider effort to broaden the revenue base beyond digital
assets.