eToro Buys Zengo Because Apparently "Not Your Keys, Not Your Brokerage" Was Just a Suggestion

eToro is set to acquire self-custodial wallet provider Zengo, deepening the trading platform's push into onchain products as digital assets remain central to its business. In what can only be described as the most ironic pivot in recent memory, eToro—the platform where your coins technically live on their balance sheet just like your college roommate's "borrowed" snacks—has decided that self-custody is the move. Bold strategy, cotton.

The deal will let eToro add Zengo's wallet technology and broaden its offering in areas such as tokenized assets, prediction markets, perpetuals and yield products. Terms were not disclosed. Because nothing says "we take your financial sovereignty seriously" like keeping the price tag under wraps. The expanded offerings read like a wishlist from a degen's fever dream: tokenized assets, prediction markets, perpetuals, and yield products. Basically, if it sounds complicated and involves numbers moving on a screen, eToro wants in.

Bloomberg reported the transaction is worth about $70 million, mostly in cash, citing a person familiar with the matter. The same mysterious source that definitely isn't legally obligated to say "no comment" also confirmed the deal is mostly cash, which means eToro didn't try to pay in meme coins or their own token. Respectable, honestly.

CEO Yoni Assia said at Paris Blockchain Week during a fireside chat that the acquisition fits eToro's effort to attract a more crypto native user base while expanding beyond regulated brokerage products into self-custody infrastructure. Picture this: a cozy fireside chat, the smell of instant ramen nearby, and Yoni explaining to traditional finance types why moving their Bitcoin to a wallet they technically still control is totally different this time. The irony is not lost on anyone who remembers eToro's "your capital is at risk" disclaimers.

Crypto activities have become an important revenue source for the platform. eToro reported total revenue and income of $13.8 billion in 2025, of which $12.98 billion was revenue from crypto assets. Let that sink in: $12.98 billion from crypto out of $13.8 billion total. That's not a crypto platform that does some trading on the side—that's a crypto platform that accidentally got licensed as a brokerage. The other $820 million presumably comes from selling premium memberships to people who still think they're "learning" about stocks.

Assia keeps $250,000 Bitcoin target

At Paris Blockchain Week, Assia said he expects the current market slowdown to last another quarter before Bitcoin returns to an accumulation phase, eventually pushing the token above $250,000. "Bitcoin is on the path eventually to $250,000, $500