eToro interim Q2 reflects continued user growth, commissions, crypto interest

Cryptocurrency exchange eToro's new registered users of 2.6M in Q2 2021 increase 121% from the same period a year ago, while total commissions of $362M rises 125%. Commissions were driven by crypto assets, which reflects strong interest from retail crypto investors, the company said. eToro will become a publicly traded company after it combines with Betsy Cohen's Fintech Acquisition V (FTCV) SPAC. eToro's funded accounts rose 158% Y/Y to 2M. Its Americas business accounts for 12% of funded accounts, up from 6% in the year-ago quarter. Total assets under administration were $9.4B. "eToro is on track to hit our 2021 forecast supported by a strong second quarter," eToro CEO and Co-founder Yoni Assia said. However, "looking beyond the Q2 numbers, the volume of new users joining eToro and overall trading activity on the platform has slowed to date in the third quarter compared to the all time highs of H1