eToro crypto revenue surges to $13bn as traders switch to commodities

Trading platform eToro reported better than expected quarterly results on Tuesday, with the company posting profit as crypto traders swung to buying and selling commodities during a brutal market downturn.

Revenue from crypto trading fell by 38% to $3.6 billion in the last three months of 2025 compared to 2024. For the full year, eToro’s cryptoasset revenue rose by almost 7% to $12.9 billion — a whopping 94% of its total revenue and income.

CEO Yoni Assia said the firm was still “extremely bullish” on crypto.

“We’re seeing something that we haven’t seen before, which is crypto native customers — people came into eToro to trade crypto, and traded mostly crypto, suddenly trading a commodity,” he said.

The fintech firm reported its earnings amidst a market downturn that has shaved almost half, or $2 trillion, off the cryptocurrency market’s total value. The report also highlights how important crypto has become for tech startups that have up until recently provided more traditional financial products.

Earlier in February, rival Robinhood similarly reported a 27% revenue increase for the full year, fuelled by its bet on crypto assets.

Switch to metals

eToro reported a 43% surge in net income from equities, commodities and currencies year-over-year but a drop in revenue from crypto trading.

The company’s net income for the full year grew 12% to $216 million in 2025. Shares of eToro were trading nearly 14% higher at 10.30am in New York.

While eToro acknowledged that it took a hit when crypto trading volumes fell, the firm has been able to pivot to commodities.

“When we see less interest in crypto, we shift the focus from a marketing perspective to basically equities to commodities, which we’re seeing very high engagement levels on and we keep on building constantly new products in crypto,” said Assia.

Cryptocurrencies are down, but gold, silver, and stocks continue to surge.

Still bullish

Despite the crypto downturn, eToro said it was committed to building products for the asset class as it expects new customers to flock to the space.

The company debuted a non-custodial crypto wallet in December and is planning new products.

“We’ve actually developed a very significant crypto road map with our non-custodial wallets, with new products coming into crypto, and we have no doubt that we’ll see more and more engagement, especially by the way, of younger crypto native generations into crypto, despite the price of Bitcoin right now,” added Assia.

Mathew Di Salvo is a news correspondent with DL News. Got a tip? Email at mdisalvo@dlnews.com.