- EToro‘s Q1 2026 net income rose 37% to $82 million, largely fueled by a fourfold surge in commodities trading commissions.
- Crypto trading activity weakened significantly, with trade volumes falling 32% year-over-year to two million trades in April.
- The company expanded its regulatory footprint by activating its BitLicense to launch crypto trading in New York and closed its acquisition of self-custody wallet provider Zengo.
- Assets under administration grew to $17 billion by quarter-end, climbing further to $18.7 billion in April.
- Other major exchanges like Coinbase also faced headwinds, posting a net loss of $394.1 million as total crypto market cap declined.
Social trading and multi-asset platform eToro announced strong first-quarter 2026 results on Tuesday, reporting a 37% year-over-year jump in net income to $82 million. The performance was primarily driven by soaring commodities trading, which offset a notable downturn in cryptocurrency activity.
Commodities accounted for roughly 60% of trading commissions, with volumes up nearly fourfold from a year earlier. Consequently, adjusted EBITDA climbed 35% to $109 million, while net contribution grew 19% to $258 million, according to the company’s release. Meanwhile, the platform expanded its equities offering to 26 exchanges and activated its BitLicense to commence crypto operations in New York.
However, crypto trading volumes tumbled significantly alongside the broader market decline. Data for April showed crypto trade volumes fell 32% year-over-year to two million trades, with the invested amount per trade dropping 22% to $207. This trend mirrors challenges faced by other major exchanges, as reports indicate Coinbase posted a $394.1 million net loss in Q1.
On the product front, eToro launched AI-powered Agent Portfolios and deepened its partnership with xAI. The company also finalized its acquisition of Zengo on April 30, a move CEO Yoni Assia said advances the strategy of bridging traditional finance with on-chain infrastructure. Funded accounts grew 12% to 4.02 million, and assets under administration reached $17 billion by March 31.
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