Crypto Trading remained the backbone of Etoro’s business in the second quarter, generating approximately 91% of the company’s total income, according to its latest profit report.
That has slightly decreased from the 93% participation registered in the first quarter, which suggests a modest increase in the contribution of actions and other commercial segments.
During the three months finished on June 30, the revenues of crypto -setes totaled $ 1.91 billion, affected by a small net loss of $ 8.4 million of the cryptographic derivatives trade.
After subtracting the cost of $ 1.88 billion of Cryptasset revenues, the trade of digital assets still constituted the vast majority of the total revenues of $ 2.09 billion of Etoro, according to the presentation.
In the first quarter, cryptographic revenues reached $ 3.5 billion, with an additional gain of $ 77 million of cryptographic derivatives, which represents more than 93% of the total revenues of $ 3.76 billion of the company.
The company has been increasingly betting on crypto. Last month, plans to Tokenize US actions in the Ethereum block chain to improve their commercial capabilities.
ETORO was made public at $ 52 per share in May, raising around $ 310 million of its Nasdaq list. The company’s shares are now quoted at $ 50.7, more than 8.2% from their commercial debut.
