eToro posts 54% AUA jump, crypto revenue hits $1.9 billion in first earnings report since going public
Etoro (ticker ETOR), the Tel Aviv-based trading and investment company, reported its second-quarter earnings on Tuesday, showing a modest amount of growth. Notably, assets under administration grew 54% year-over-year to $17.5 billion while the number of funded accounts grew 14% over the same period.The company's adjusted, non-GAAP net income also grew to $54.2 million in the second quarter compared to $44.2 million in the second quarter of 2024. Meanwhile, adjusted EBITDA increased by 31% year over year to $72 million, "largely due to increased revenue and disciplined cost management." Of Note, eToro's crypto revenue came in at around $1.9 billion, up about $300 million year over year."eToro continued to focus on sustainable, profitable growth in the second quarter, launching products and services to support users at every stage of their investing journey," the firm wrote in its statement.In the quarter, the firm introduced several new products and services, including "24/5 trading" for 100 U.S. equities and expanded crypto options. It also announced a tokenization strategy for onchain stocks, ETFs, and futures."Looking ahead, we are excited to continue developing technologies like tokenization and AI tools that we believe will transform how retail investors interact with the markets and create new opportunities for growth," the firm stated. Launched in 2007, eToro was one of the first traditional trading platforms to enter the crypto market. In 2019, for instance, the company launched tokenized gold and silver products.Etoro went public in the U.S. in May at a $4.2 billion valuation. The IPO on the Nasdaq raised approximately $620 million, with ETOR share prices surging on debut, pushing the valuation to around $6 billion by the end of the first trading day.The stock traded down 8% on Tuesday, dropping its market cap closer to $4 billion according to Yahoo Finance data.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.