EToro’s assets under administration rose to $17 billion
EToro’s funded accounts grew 12% to 4.02 million, while assets under administration rose 15% to $17 billion. The company held $1.3 billion in cash and short-term investments as of March 31.
Commodities trading surged, offsetting a slump in crypto trading. Crypto trade volumes fell 32% year-over-year to two million trades, with the invested amount per trade dropping 22% to $207.
Assets under administration climbed further to $18.7 billion in April, up 19% year-over-year, while total money transfers for the month hit $1.4 billion, up 53%. The company also closed its acquisition of Zengo, a self-custodial crypto wallet provider.