PANews reported on November 11th that, according to The Block, trading and investment firm eToro released its earnings report on Monday, showing significant growth in its crypto division in the third quarter after adding various digital assets and launching staking services. During the reporting period, revenue from "crypto assets" reached $3.97 billion, compared to only $1.4 billion in the same period last year. However, the cost of revenue was as high as $3.89 billion, generating almost no actual profit, and incurring a net loss of over $18 million due to crypto asset derivatives trading.

eToro stated that it has expanded its cryptocurrency business in the US, launching more tokens with utility, staking, and yield features, and advancing cryptocurrency wallet development. Driven by the increase in the number of crypto assets from 3 to 110, and the launch of staking services for Cardano, Ethereum, and Solana, the number of new accounts opened this year has already exceeded the total for 2024. Furthermore, the company's total trading volume and trading value last month increased by 84% and 52% year-over-year, respectively. Overall, the platform reported a net profit of $56.8 million, and its assets under management (AUA) increased to $20.5 billion in the third quarter, a year-over-year increase of 73%.