eToro's first-quarter crypto revenue declines year-over-year as industry trading activity cools

Odaily reported that trading platform eToro's latest financial results show that its crypto asset revenue for the first quarter of 2026 fell to $2.15 billion, down from $3.5 billion in the same period last year; the total number of crypto transactions on the platform dropped 32% year-over-year.

Despite the decline in trading activity, eToro continued to invest in its crypto business during the quarter, including acquiring self-custody wallet company Zengo for $70 million and launching crypto trading services in New York.

This trend is consistent with the overall industry performance. Robinhood's first-quarter crypto revenue and trading volume both fell by approximately 50%, while Coinbase also recorded a net loss of $394 million, indicating that crypto trading platforms are generally facing market cooling pressure in early 2026.