TL;DR
- eToro announced the acquisition of TradeZero for up to $231 million in cash and stock to accelerate its U.S. expansion.
- The platform reported revenues of $1.590 billion in Q2 2026, with net earnings of $53.4 million and $0.68 per adjusted share.
- Crypto asset revenues fell 30% year-over-year, but trading in stocks and commodities grew 24%.
eToro beat Wall Street estimates for the second quarter of 2026 and announced simultaneously the acquisition of TradeZero, an online brokerage firm focused on the U.S. market.
The platform reported total revenues of $1.590 billion and net earnings of $53.4 million, with an adjusted earnings per share of $0.68, above the $0.61 consensus estimate tracked by LSEG. The news, however, did not prevent ETOR shares from falling more than 5% in Tuesday’s premarket session on the Nasdaq.
🚨 We've entered into an agreement to acquire @tradezero, a US-focused online brokerage serving active traders.
This is an important step in building our US business. Welcome to the family, TradeZero!
— etoro (@eToro) August 11, 2026
The quarter‘s figures showed mixed results. Revenues from crypto assets reached $1.340 billion, a 30% decline compared to the $1.900 billion recorded in Q2 2025. Total cryptocurrency trades fell to 1.4 million in July, a 73% year-over-year drop, and the amount invested was cut in half. On the other hand, net revenues from trading in stocks, commodities and currencies grew 24%, reaching $141.6 million, driven by increased activity in equities.
eToro Bets on the U.S. Market with TradeZero
The agreement to acquire TradeZero was valued at up to $231 million, combining cash and stock. Founded in 2015, TradeZero operates primarily in the United States, with a presence also in Canada and other international markets. Over the past twelve months, the firm generated approximately $80 million in revenues with gross margins of 81%. eToro estimates that the transaction will be accretive to adjusted earnings per share in the first year following its close, expected in the first half of 2027.
Yoni Assia, chief executive officer of eToro, stated that the acquisition is “an important step in building our business in the U.S.” The company launched its platform in that market in 2019 and has since maintained a gradual expansion strategy toward Asia Pacific and the Americas, without abandoning its historical base in Europe and the United Kingdom.
The acquisition of TradeZero adds to the purchase of self-custody wallet provider Zengo, further strengthening the multi-asset platform profile the company has been building. Meron Shani, chief financial officer of eToro, highlighted that nearly nine out of ten users who traded commodities in previous quarters also transacted in cryptocurrencies during Q2 2026, as evidence of the growing diversification of its user base.
