PlayIconNav
BTC
$57,160.74+3.20%
ETH
$2,349.85+1.15%
BNB
$520.65+2.70%
SOL
$134.93+3.66%
XRP
$0.53929459+1.34%
DOGE
$0.10397740+5.44%
CD20
$1,815.79+2.33%
TON
$5.26+3.44%
TRX
$0.15296720-0.77%
ADA
$0.34317602+0.52%
AVAX
$23.95+0.06%
WBTC
$57,083.71+3.09%
Ad
Finance

eToro’s Crypto Trading Commissions Soar to $264M in Q2

Crypto trading commissions increased from just 7% of total commissions a year ago to 73% in the second quarter of this year.

By Nate DiCamillo
AccessTimeIconAug 25, 2021 at 2:33 p.m. UTC
Updated May 9, 2023 at 3:23 a.m. UTC
eToro

Trading platform eToro said its commissions from crypto trading increased by nearly 23-fold in the second quarter, compared with the same period last year. 

  • Commissions from crypto trading were $264.2 million in the second quarter, compared with $11.2 million in the second quarter a year ago.
  • The share that crypto represented of total trading commissions increased to 73% this past quarter, compared with just 7% during the same period last year. XRP brought in the most commissions out of any crypto assets, while bitcoin had the most trading volume.
  • The company's total trading commissions were $362 million, and net trading income was $290 million. The company, however, posted a net loss of $89 million because of a non-cash charge of $71 million in stock-based compensation for eToro employees and a $36 million transaction cost related to its future merger with special purpose acquisition company (SPAC) FinTech Acquisition Corp. V. 
  • In May, eToro announced that it plans to go public via the merger, which values the combined company at $10.4 billion.
  • The company added 2.6 million new clients in the second quarter, a 121% increase from the same period last year but 500,000 fewer than what it added in the first quarter. The company had 23.2 million total users as of June 30. 
VolumeMuteUnmute

Will Bitcoin Hit $1 Million?

  • Bitcoin Is a 'Beachball' Being Pushed Underwater Now: Samson Mow
    00:59
    Bitcoin Is a 'Beachball' Being Pushed Underwater Now: Samson Mow
  • U.S. Already Got the 'Lion's Share' of the Spot Bitcoin ETFs: Samson Mow
    00:56
    U.S. Already Got the 'Lion's Share' of the Spot Bitcoin ETFs: Samson Mow
  • What Are the Benefits of Nation States Adopting Bitcoin?
    00:58
    What Are the Benefits of Nation States Adopting Bitcoin?
  • Will Bitcoin Skyrocket If Trump Returns to Office?; WazirX Hacker Moves Stolen Funds to Tornado Cash
    01:56
    Will Bitcoin Skyrocket If Trump Returns to Office?; WazirX Hacker Moves Stolen Funds to Tornado Cash

    • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.