With crypto still driving the lion’s share of its revenue, eToro is now nudging users toward traditional markets. Its new cashback program gives UK and EU crypto traders 1% back in domestic stocks — a smart bid to rebalance the books and broaden investor behaviour.
Crypto pays the bills — but stocks build stability
Trading platform eToro (NASDAQ: ETOR) is giving its crypto-heavy customer base a reason to look at the stock market. The company has launched a new 1% stock-back cashback offer for UK and European users who deposit eligible cryptocurrencies and convert them into British pounds or euros.
The move comes as crypto trading continues to dominate eToro’s business, generating a staggering 91% of its $2.09 billion revenue in the second quarter of 2025 — that’s roughly $1.91 billion from digital assets alone. Equities and commodities, by contrast, made up just $114 million combined.
How the promotion works
Starting immediately, customers who transfer cryptocurrencies to their eToro Crypto Wallet and convert them to GBP or EUR will receive 1% of that value back in domestic stocks. UK users will get British-listed equities, while EU customers will earn shares from European-listed companies.
The program runs through March 31, 2026, with a monthly cashback cap of £1,000 (UK) or €1,000 (EU). Participants must opt in and choose their preferred stock from a rotating monthly list curated by eToro.
Why eToro is doing this now
Crypto might be booming, but it’s also volatile — and that concentration is a risk. eToro’s revenue mix shows just how dependent the company is on digital assets, even as the rest of its multi-asset portfolio lags behind.
Revenue Source
Q2 2025
Q2 2024
Change
Crypto Revenue
$1,915M
$1,640M
+17%
Equities/Commodities
$114M
$83M
+37%
Net Interest Income
$44M
$50M
-12%
Currency Conversion
$23M
$18M
+27%
Crypto transactions hit 10.7 million during July and August — a 49% jump year-over-year — with the average trade size nearly doubling to $345. By contrast, traditional markets saw only modest growth, with equity and commodity trades up 3% and average trade sizes up just 4%.
Broader crypto reach — and a subtle pivot
Alongside the cashback offer, eToro is expanding its list of supported cryptocurrencies for wallet deposits beyond Bitcoin and Ethereum. New additions include XRP, USDC, Polygon, Chainlink, Aave, Uniswap, and Fetch.ai.
These updates signal eToro’s dual focus: continue serving the crypto community that built its brand while encouraging them to diversify into traditional assets. It’s a smart defensive strategy — balancing growth with stability as regulatory scrutiny and market cycles test the long-term resilience of crypto-first platforms.
Why it matters
“Many investors first entered the markets through crypto and are now looking for ways to reinvest those gains into other asset classes,” said Doron Rosenblum, Executive Vice President of Business Solutions at eToro. “Being a multi-asset platform with stocks from over 20 exchanges, we are able to reward users with stock-back in domestic equities on crypto deposits.”
That logic tracks with eToro’s broader strategy. Assets under administration hit $19.7 billion in August — up 77% year-over-year — and funded accounts grew 15% to 3.69 million. As interest-earning assets rose 46% to $7.5 billion, eToro is clearly investing in ways to turn crypto momentum into lasting engagement across other asset classes.
From “crypto-first” to “multi-asset mainstream”
What eToro is doing here echoes a trend across fintech: platforms that started with crypto or trading niches are now repositioning as multi-asset “super apps.” Binance is rolling out stock tokens. Robinhood is integrating retirement accounts. Even Revolut has leaned hard into equities and banking.
For eToro, the 1% stock-back offer is more than a marketing stunt — it’s an early step toward reducing dependence on an unpredictable revenue stream and getting investors to think in portfolios, not tokens. If it works, it could boost stability while keeping its crypto-native audience engaged.
The bottom line
eToro’s cashback push is a timely experiment in investor psychology — can a small equity reward inspire crypto traders to embrace diversification? With digital assets still driving over 90% of its business, eToro’s success may depend on whether users take the hint and start balancing Bitcoin with blue chips.
What do you think? Would a 1% stock-back reward motivate you to reinvest your crypto gains into traditional markets — or is crypto still the better bet? Drop your thoughts in the comments below.
