CoinWorld News reports that eToro, a trading and investment company headquartered in Tel Aviv (stock code ETOR), announced its second quarter financial results on Tuesday, showing moderate growth. Notably, assets under management increased by 54% year-on-year to $17.5 billion, while the number of funded accounts grew by 14% year-on-year. The company's adjusted non-GAAP net income also rose to $54.2 million in the second quarter, compared to $44.2 million in the second quarter of 2024. Meanwhile, adjusted EBITDA increased by 31% year-on-year to $72 million, 'primarily due to revenue growth and strict cost management.' It is worth noting that eToro's cryptocurrency revenue was approximately $1.9 billion, an increase of about $300 million year-on-year. The company stated, 'eToro continued to focus on sustainable profitable growth in the second quarter, launching products and services to support users at every stage of the investment process.' In this quarter, the company launched several new products and services, including '24/5 trading' for 100 U.S. stocks and expanded its cryptocurrency offerings. It also announced a tokenization strategy for on-chain stocks, ETFs, and futures. The company stated, 'Looking ahead, we are excited to continue developing technologies such as tokenization and AI tools, which we believe will change the way retail investors interact with the market and create new growth opportunities.' eToro was founded in 2007 and is one of the traditional trading platforms that entered the cryptocurrency market early. For example, in 2019, the company launched tokenized gold and silver products. eToro went public in May in the U.S. with a valuation of $4.2 billion. The IPO on NASDAQ raised approximately $620 million, and the ETOR stock price soared on its first day of trading, with the valuation pushed up to about $6.0 billion by the end of the first trading day. The stock fell 8% on Tuesday, and according to Yahoo Finance, its market capitalization dropped to nearly $4.0 billion.

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