eToro Reports 37% Higher First-Quarter Net Income as Commodities Surge Off Crypto Volume Drop

eToro reported first-quarter net income of $82 million, up 37% year over year, as commodities trading activity surged even while crypto volumes on the platform declined sharply.

In April, eToro disclosed that crypto trading volumes fell 32% year over year to 2 million trades, while the invested amount per crypto trade dropped 22% to $207.

AlphaStreet

The company said commodities generated nearly 60% of total trading commissions, with trading volumes rising almost fourfold from the same period last year.

eToro also said it activated its BitLicense to begin crypto trading operations in New York and completed its acquisition of self-custodial wallet provider Zengo on April 30.

Alongside the earnings update, eToro reported that assets under administration rose to $17 billion as of March 31, and that monthly money transfers climbed 53% to $1.4 billion.

Coinbase’s first-quarter results pointed to weaker trading conditions across digital asset markets, with the company reporting a $394.1 million net loss for Q1 2026.

Coinbase also reported transaction revenue falling 40% year over year to $755.8 million, while subscription and services revenue declined 13.5% to $583.5 million.

Bitcoin News

Coinbase linked trading activity weakness to a 44% decline in global crypto spot trading volumes, reporting total trading volume of $202 billion for the quarter.

In the same period, eToro’s April operating metrics showed crypto trades down 32% year over year to 2 million, even as the company’s broader platform metrics continued to rise.

eToro’s CEO Yoni Assia said the company expects crypto engagement to improve later this year, telling CNBC, “We do expect later this year to start seeing crypto rising back to, you know, near all-time high, and that will drive crypto engagement.”

eToro’s push into crypto in New York was tied to regulatory activation, with the company saying it had activated its BitLicense to begin crypto trading operations in New York.

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Boursorama

The company also completed its acquisition of Zengo on April 30, 2026, adding self-custodial wallet technology to its digital asset offering.

In April, eToro reported assets under administration rose further to $18.7 billion, up 19% year over year, while funded accounts reached 4.02 million during the quarter, up 12% year over year.

Despite the crypto slowdown, eToro said it introduced AI-powered Agent Portfolios and integrated Grok 4.2-powered market sentiment tools into its AI investing assistant, Tori.

In a separate earnings context, eToro’s fourth-quarter results were described as a record, with GAAP net income of $69 million for the quarter ended December 31, 2025, up 16% from $59 million a year earlier, even as its cryptocurrency revenue fell 38% to $3.593 billion.