eToro reported a staggering 13-fold profit increase in 2024, reaching $192 million, up from $15.3 million in 2023. The company’s total commission income jumped 45.6% year-over-year to $931 million, with crypto trading contributing 38%—matching equities, while commodities made up 20% and currencies just 4%.
The final quarter of 2024, fueled by Bitcoin surpassing $100,000, saw the highest commission earnings at $303 million. eToro’s funded accounts grew 14% to 3.5 million, and assets under administration surged 73% to $16.6 billion.
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The Israeli fintech has filed for a Nasdaq listing under the ticker ETOR, targeting a $5 billion valuation. This follows its abandoned 2021 SPAC merger and a $250 million fundraising round in 2023.
eToro also settled SEC charges last year, paying $1.5 million and restricting crypto trading in the UK to Bitcoin, Bitcoin Cash, and Ether.
