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eToro is an international brokerage that trades in equities, commodities, crypto assets, and currencies. Its Q2 results contain some interesting insights into the crypto world. Not only did crypto trading account for almost three-quarters (73%) of the brokerage’s Q2 commissions, but its crypto revenue is also up about 2,300% from the year before.
That 73% figure is striking because crypto commissions only represented 7% of the total in the same period last year. This is one of the many indications of how much cryptocurrencies have grown in just 12 months.
In total, eToro charged about $362 million in commissions and trading interest, which equates to about $264 million in crypto commissions for the company. That’s up from about $11 million in the same period for 2020.