Regulations
By Jean-Luc Maracon
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Why eToro Wants This Deal Now. eToro's pitch here is pretty straightforward: it wants deeper roots in U.S.
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eToro's Q2 Numbers Tell a Mixed Story. The financials eToro posted alongside this announcement are a bit of a mixed bag.
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Cash on Hand and What Comes Next. eToro isn't short on firepower. As of June 30, the company held $1.
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eToro is buying TradeZero. The deal is worth up to $231 million, paid in a mix of cash and up to 2.5 million newly issued Class A shares, subject to price adjustments.
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TradeZero, founded in 2015, runs brokerage services aimed at active traders across the United States, Canada, and several international markets.
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TradeZero also tried going public once. A planned merger with Dune Acquisition Corp fell apart in 2021, leaving the firm unlisted.
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eToro's pitch here is pretty straightforward: it wants deeper roots in U.S. equities, and TradeZero gives it a ready-made active-trader base.
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The two earlier acquisitions this year — Zengo, a self-custody wallet maker, and Bit2C — were both crypto plays. TradeZero is different.
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The deal still needs regulatory approval and isn't expected to close until the first half of 2027.
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The financials eToro posted alongside this announcement are a bit of a mixed bag. Second-quarter net contribution rose 9% year-over-year to $229 million.
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Read also: Revolut Lands Second EU Banking License With 600 Hires and EUR 1 Billion Pledge
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Assets under administration dipped to $18.5 billion in July, which wasn't a great look. Funded accounts, on the other hand, grew 18% to reach 4.32 million.
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Crypto, though. That's where things got rough. Trades in the crypto segment dropped 73% year-over-year.
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eToro isn't short on firepower. As of June 30, the company held $1.2 billion in cash and short-term investments. It's also been buying back its own stock — $189.
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And it's not done shopping. eToro said it continues to explore additional acquisitions, with wealth-tech targets apparently on the radar.
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