eToro has added 19 cryptoassets to its trading platform, pushing its total digital asset menu past 200 names. The new listings include DoubleZero (2Z), Avantis (AVNT), Virtuals Protocol (VIRTUAL), MemeCore (M), Horizen (ZEN), Venice Token (VVV), Illuvium (ILV), Safe (SAFE) and ZetaChain (ZETA), the Nasdaq-listed company said today (Thursday).

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The Israeli fintech, which became publicly traded in May 2025, frames the rollout as part of its broader effort to widen retail investor access to digital assets within what it markets as a multi-asset platform sitting alongside thousands of stocks, ETFs, indices, currencies and commodities.

The new tokens come on top of an existing menu that already covered more than 150 cryptoassets at year-end 2025, according to the company's full-year 2025 results.

A Bigger Crypto Menu, While Trying to Sell Stocks

Adi Lasker-Gattegno, eToro's Director of Liquidity Management and Crypto Operations, said in a statement that "passing the 200 cryptos milestone is a significant moment for eToro," adding that the goal is to give users more ways to engage with the crypto market within the company's multi-asset platform.

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On a net basis, crypto generated about $155 million of net contribution in 2025, or roughly 18% of eToro's $868 million total. That puts it behind execution and clearing commissions on equities, currencies and commodities (46%) and net interest income (25%), but ahead of eToro Money (10%) and subscriptions (1%). It is also the line investors have watched most closely, both because of its volatility and because of how it sits in the headline accounts.

The headline picture looks very different. Because eToro acts as principal on crypto trades, buying the assets and selling them to users, IFRS 15 requires it to book both the full sale price and the corresponding acquisition cost as separate line items.

That mechanic inflated gross crypto revenue to $12.9 billion in 2025, against roughly $12.9 billion of corresponding cost and out of a total $13.8 billion in gross revenue, or roughly 94% of the top line. Equity, currency and commodity income is already presented net on the P&L, which makes any straight percentage comparison of the gross revenue line unreliable as a measure of business mix.

The disconnect between gross flow and economic value runs in both directions. Gross crypto revenue rose by about $828 million year over year, or 7%, between 2024 and 2025. Over the same period, net contribution from crypto fell roughly $38 million, or 20%. The gross figure pointed up while the underlying economics moved down.

That gap is also why eToro's cashback experiment was so telling. When the company rolled out a program offering UK and European users 1% back in stocks for converting crypto, the contrast was stark even within a single quarter: Q3 2025 produced $3.97 billion in gross crypto revenue but just $77.4 million in net contribution.

Crypto Activity Has Cooled in 2026

The push to add more tokens follows a notable slowdown in crypto trading on the platform. eToro's full-year 2025 results showed crypto income declined from 2024 levels, which the firm attributed to lower retail trading volumes and reduced market volatility.

The pattern has continued into the new year. In February, the company reported that crypto trades dropped 36% year-over-year to 3.3 million, even as capital markets activity surged 81%.

That mix shift has not gone unnoticed by investors. eToro shares are down roughly 50% from their May 2025 Nasdaq debut at $67, even after the company posted record net contribution of $868 million for 2025.

As FM Intelligence has documented, much of the market's caution has centered on the firm's reliance on retail crypto sentiment and the thin economics of cryptocurrency intermediation. In Q3 2025, eToro turned $3.97 billion in crypto revenue into just $77.4 million in net contribution.

Custodial and Non-Custodial, With Regional Caveats

eToro said the new tokens can be bought, sold, held, deposited, transferred and converted on its platform, with staking available for eligible assets. The firm offers both custodial and non-custodial wallet options, though it noted that token availability and feature support vary by region and remain subject to local eligibility rules.

The company reported 40 million registered users across 75 countries and roughly 3.8 million funded accounts at the end of 2025.

Beyond crypto, eToro has also pushed into UCITS/ETFs, neo-banking features and discussions with Kalshi and Polymarket on prediction markets, all part of a wider effort to broaden the revenue base beyond digital assets.