eToro Q1 crypto revenue down 38% launches NY trading
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- eToro Q1 crypto asset revenue fell 38% YoY to $2.15 billion.
- eToro net trading income from crypto derivatives dropped 57% YoY to $33.4 million.
- eToro overall net income rose 37% YoY to $82.4 million.
- eToro crypto trades fell 32% YoY in April and the average invested amount per trade dropped 22%.
- eToro activated its BitLicense to launch crypto trading in New York and completed a $70 million acquisition of self‑custodial wallet provider Zengo.
Why it matters: eToro’s shareholders benefit from a 37% rise in net income despite crypto‑revenue slump, while crypto traders face reduced platform activity; the NY BitLicense and Zengo purchase position the firm to capture future market upside as prices rebound.
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