eToro Q1 crypto revenue declines significantly

eToro reported a substantial drop in cryptocurrency revenue for the first quarter of 2026, falling to $2.15 billion from $3.5 billion in the same period last year. This decline mirrors a broader trend across the industry, with competitors like Robinhood and Coinbase also experiencing significant downturns in crypto trading volumes and revenue. Despite these challenges, eToro made strategic investments, including the $70 million acquisition of wallet firm Zengo and the expansion of its crypto trading services into New York. The total number of crypto trades on the platform decreased by 32% year-over-year.