Crypto -trade remained the backbone of Etoro’s business in the second quarter and generated approx. 91% of the company’s total income, according to the latest earnings report.
It is slightly down from the 93% stock that was registered in the first quarter, which suggests a modest increase in the contribution of shares and other trade segments.
In the three months ended on June 30, the turnover of cryptoassets amounted to $ 1.91 billion, hit by a small net loss of $ 8.4 million from trading in cryptoderivatives.
After drawing the $ 1.88 billion cost of the Cryptoasset revenue, digitally active trading still makes up the vast majority of Etoros $ 2.09 billion in total revenue, archiving shows.
In the 1st quarter, crypto-related revenue reached $ 3.5 billion with a further $ 77 million gain from cryptodativates, accounting for more than 93% of the company’s total income of $ 3.76 billion.
The company has increasingly invested in crypto. Last month, it revealed plans to tokenize US stocks at Ethereum Blockchain to improve its trading features.
Etoro was published at $ 52 per Share back in May, and raised about $ 310 million from its NASDAQ list. The company’s shares are now trading for $ 50.7, which is more than 8.2% down since the trade debut.
