eToro, more than 90% of sales in the second quarter also come from Cryptocurrency Trading | CoinDesk JAPAN

• eToro announced its Q2 earnings. The proportion of cryptocurrency trading in total revenue was 91%.
• Sales in the second quarter were $2.09 billion, of which $1.91 billion was related to cryptoassets.
• The company is enhancing its cryptoasset-related services and has announced a tokenization plan on the Ethereum blockchain for US stocks.

The online investment platform "eToro" has announced its second quarter financial results. Cryptocurrency Trading remains the core of the company's business, accounting for approximately 91% of its revenue.

The figures slightly decreased from 93% in the first quarter, while the stock and other trading sectors saw a slight increase.

Sales from cryptoassets in the second quarter amounted to $1.91 billion, while cryptocurrency derivative trading incurred a loss of $8.4 million. Cryptocurrency Trading accounted for the majority of the company's second quarter sales of $2.09 billion.

In the first quarter, cryptocurrency-related revenue reached $3.5 billion, and an additional $7.7 million was generated from cryptocurrency derivatives trading, accounting for over 93% of the first quarter sales of $3.76 billion.

eToro has been intensifying its focus on the cryptoassets field. Last month, it announced plans to tokenize U.S. stocks on the Ethereum blockchain and enhance trading functionality.

eToro went public in May at $52 per share, raising approximately $310 million through its Nasdaq listing. At the time of writing this article, it is hovering around $50.7, which is over an 8.2% decline from its initial listing price.