Shares of eToro (ETOR) climbed 14% on Tuesday after the company delivered its strongest quarter of 2025, standing out against a challenging backdrop for crypto trading that has pressured rivals Robinhood (HOOD) and Coinbase (COIN).
The Israel-based brokerage, which offers both stock and cryptocurrency trading, reported fourth-quarter revenue of $227 million, up 6% from the prior quarter, alongside a record net profit of $69 million. For the full year, revenue rose 10% to $868 million from $788 million in 2024.
The results marked a sharp divergence from peers. Both Robinhood and Coinbase recently posted softer-than-expected fourth-quarter earnings as reduced volatility and falling digital asset prices dampened trading activity.
At eToro, crypto-related revenue declined to $3.59 billion in the fourth quarter, compared with $5.8 billion in the same period a year earlier. However, the company offset the drop through stronger performance in equities and commodities trading.
On a call with analysts, CEO Yoni Assia said some users who typically focus on crypto have begun reallocating toward commodities.
“There’s a certain shift from crypto, where volatility has come down, toward assets like gold, silver and other commodities that are currently showing higher volatility,” Assia said.
eToro now provides access to more than 100 crypto assets for U.S. customers, but management underscored the firm’s broader multi-asset strategy. Assia described the company as uniquely positioned as both a crypto-native platform and a global equities brokerage.
He added that eToro is preparing for a financial ecosystem increasingly moving on-chain, arguing that its experience in crypto and tokenization gives it an advantage as markets evolve.
Despite the strong fourth quarter, early 2026 data points to softer activity. January trading volumes totaled 4 million trades, with crypto trades down 50% year over year. The average investment per trade also declined 34% to $182 compared with January 2025.
Even so, the company’s diversification across asset classes appears to have helped buffer the impact of the ongoing slowdown in crypto markets.
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