Finance News
By Sydney TheCMO
1 / 15
Crypto Holdings Collapsed in Two Quarters. The AUM drop came almost entirely from crypto. eToro's crypto assets fell from $7.
2 / 15
Marketing Spend Goes Up as Revenue Mix Shifts. CFO Meron Shani said eToro will push marketing expenditure from 22% to 25% of net contribution by…
3 / 15
Smaller Trades, More Automation. The shift toward smaller trades reflects broader changes in how retail investors use the platform.
4 / 15
Shares fell 3% by Tuesday's close to $37.61, even after the company beat earnings by 35%. The stock actually jumped 6% to $41.20 early in the session, then gave it all back.
5 / 15
The AUM drop came almost entirely from crypto. eToro's crypto assets fell from $7.8 billion at the end of Q3 2025 to just $4.1 billion by March 2026.
6 / 15
Trade sizes kept shrinking. Average trade size for Q1 hit $197, down from $304 in Q4 2025 and $262 a year earlier.
7 / 15
CFO Meron Shani said eToro will push marketing expenditure from 22% to 25% of net contribution by the end of 2026. Each percentage point represents an extra $2.
8 / 15
Adjusted operating expenses rose 7% sequentially, driven mostly by a $12 million increase in customer acquisition costs.
9 / 15
The invested amount per trade in capital markets dropped to $197 in Q1 from $379 in April 2025. That's a 48% year-over-year decline.
10 / 15
Read also: eToro Hits $82M Net Income as Commodities Trading Overtakes Crypto Revenue
11 / 15
Competitors didn't have the same problems. XTB saw revenue surge 88% and added 370,000 new clients in one quarter.
12 / 15
The crypto trading business took multiple hits. Beyond the AUM decline, the $5 million negative valuation on corporate holdings shows how volatile the asset class remains.
13 / 15
eToro's leadership stayed optimistic about the strategic direction. The marketing push to 25% of net contribution signals a commitment to growing the user base and building brand…
14 / 15
More context: 21Shares HYPE ETF Pulls $1.2M on Day One as Crypto Fund Race Heats Up
15 / 15
The competitive landscape got tougher. With XTB and Plus500 reporting strong growth, eToro's strategic investments in marketing and platform development will need to pay off fast.
The Currency Analytics
Want the full story?