Shares of trading platform eToro surged 14% after the company reported record fourth quarter results, outperforming several major competitors that have struggled with weaker crypto activity. The Israel based brokerage posted stronger than expected earnings, supported by growth in equities and commodities trading even as digital asset revenue declined.
For the fourth quarter, eToro reported revenue of $227 million, marking a 6% increase from the previous quarter. Net profit reached a record $69 million for the period. On a full year basis, revenue for 2025 rose 10% to $868 million, compared with $788 million the prior year. The performance stood out against a backdrop of softer trading volumes across the crypto industry.
While crypto remains a significant part of eToro’s offering, revenue linked to digital asset trading fell year over year. Crypto related revenue dropped to $3.59 billion in the fourth quarter, down from $5.8 billion in the same period a year earlier. The decline reflects reduced volatility and lower speculative activity across major tokens as market momentum cooled.
Despite the drop in crypto revenue, eToro was able to offset the weakness through increased participation in equities and commodities markets. Management highlighted growing client interest in gold, silver and other commodity products during the quarter. According to the company, some users who previously focused on digital assets have shifted toward traditional instruments that currently offer higher short term volatility.
The company’s diversified asset mix appears to have provided resilience during a period when peers such as Robinhood and Coinbase reported softer results tied to reduced crypto trading activity. By maintaining exposure across stocks, exchange traded products, commodities and digital assets, eToro has been able to stabilize revenue streams during market rotations.
Management also emphasized its long term positioning within a financial system that is gradually incorporating blockchain based infrastructure. The platform offers more than 100 crypto assets to US users and continues to invest in tokenization and digital asset capabilities. At the same time, it maintains a broad global equities trading base, positioning itself as both a crypto native and multi asset platform.
Early 2026 data indicates that trading conditions remain mixed. January volumes totaled approximately 4 million trades, with crypto trades down 50% compared with the same month last year. The average invested amount per trade also declined 34% year over year to $182, suggesting more cautious participation among retail traders.
Even with softer crypto activity entering the new year, investors responded positively to the fourth quarter earnings release. The market reaction suggests confidence in eToro’s diversified revenue model and its ability to navigate cyclical shifts between digital assets and traditional markets as global risk appetite evolves.
