eToro Assets Reclaim $20 Billion in May as Crypto Trading Keeps Sliding

eToro said the value of customer assets on its platform reached $20.1 billion in May, up 18% from a year earlier, as heavy stock and commodities trading offset another drop in crypto activity.

The preliminary figures also showed the trading app leaning on two recent acquisitions to lift its headline account growth.

The monthly snapshot extends a pattern that has run through eToro's data all year, with traditional markets activity rising while digital assets fade.

Capital markets trades, a bucket covering stocks, commodities and currencies, rose 59% from May 2025 to 64 million.

Crypto trades fell 31% to 2.2 million over the same stretch, deepening a pivot from crypto toward traditional markets that the Nasdaq-listed broker has reported since the start of 2026.

Smaller Trades Power the Volume Surge

The jump in trade counts came with a catch. The average amount invested per capital markets trade fell 36% to $201, while the figure for crypto dropped 28% to $203. eToro's users, in short, are placing far more orders, but each one is much smaller than it was a year ago.

The company has tied that compression to a growing share of copy trading and automated activity, which spreads money across many small positions.

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It made the same point about its first-quarter results, when capital markets trades climbed 90% and the per-trade figure fell sharply. The shift has also colored how investors read the data, with trade sizes roughly halving over recent quarters.

Source: eToro Group, preliminary May 2026 metrics. Figures rounded; percentages based on unrounded numbers.

Account Growth Leans on Acquisitions

eToro reported 4.23 million funded accounts at the end of May, up 17% from 3.61 million a year earlier. Buried in a footnote, though, is that 110,000 of those accounts came from its purchases of Zengo and Bit2C, two Israeli crypto businesses.

Strip out the acquired users and the base sits closer to 4.12 million. The deals therefore account for roughly a fifth of the year-over-year increase in funded accounts, leaving organic onboarding more modest than the headline rate implies.

eToro defines funded accounts as users who have deposited money and placed at least one trade, but for the Zengo and Bit2C customers it counts anyone with a positive balance.

The Zengo deal, which closed at the end of April, handed eToro a self-custodial wallet it has linked to prediction markets and other decentralized products.

Crypto Trading Fades Across Retail Platforms

eToro is not alone in watching crypto volumes cool. The slide has shown up across the multi-asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term retail brokers that rode the digital asset boom, even as several of them keep expanding their crypto lineups.

Robinhood Markets, the US trading app eToro is most often measured against, reported that its crypto revenue fell 47% to $134 million in the first quarter, with the gap covered by event contracts and options.

Interactive Brokers, meanwhile, posted 31% account growth even as trading activity eased after a busy March. The common thread is that volatility in commodities and equities is propping up revenue while crypto lines compress.

Deposits Double as Interest Assets Build

Money moving through the platform picked up sharply. Total money transfers, which track deposits, withdrawals and currency funding through the eToro Money account, doubled from a year earlier to $1.6 billion.

Interest earning assets, the balances eToro can earn a yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term on, rose 14% to $7.2 billion. Those balances have become a bigger part of the business as the broker pushes subscriptions and cash features, echoing the recurring-revenue model it borrowed from Robinhood with its Platinum tiers.