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EToro says crypto made up 73% of trading commissions in the last quarter, as retail customers dived in

Posted On: 19 Oct 2021   |   Posted By: Business Insider

EToro says crypto made up 73% of trading commissions in the last quarter, as retail customers dived in

Summary List Placement Crypto assets drove 73% of eToro's total trading commissions in the second quarter, compared with 7% a year ago, as interest in digital assets rose and retail investors carried out more trades.
That lift in customer engagement with cryptoassets is driving strong positive momentum for eToro, the trading platform provider said in a quarterly financial update published Wednesday.
The company booked $264 million in trading commissions from crypto, up 2,259% from $11.2 million in the same quarter in 2020. For all assets - stocks, commodities and currencies, as well as crypto - the total was $362 million, a 125% increase on $161 million last year.
A year earlier , crypto activity accounted for only 7% of eToro's trading commissions, with equities and commodities leading instead.
"Cryptoassets drove total commissions in the second quarter of 2021, reflecting retail investors' strong interest across the cryptos offered by eToro with the highest trading volumes in BTC, XRP, ETH, ADA and DOGE,"...

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