Goldman Sachs: eToro crypto trades rise 280% MoM, target price cut to $34

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Goldman Sachs reported that eToro’s crypto trades surged 280% month-over-month in August to 5.3 million, though they were down 4% year-over-year. ECC trades rose 7% month-over-month to 52 million. Commissions reached $42.8 million, up 19.7% month-over-month. eToro added 40,000 accounts, bringing its total to 4.3 million with $20.2 billion in AUM. The firm lowered its target price to $34 from $36, maintaining a neutral rating. With the current crypto price at $30.35, altcoins to watch may benefit from eToro’s growing user base and trading activity.

According to Chaoxiang Research, a Goldman Sachs report dated September 14, 2026, noted that eToro’s crypto trading volume in August reached 5.3 million transactions, up 280% month-over-month but down 4% year-over-year. ECC trading volume totaled approximately 52 million transactions, up 7% month-over-month and 31% year-over-year. Total commissions amounted to $42.8 million, up 19.7% month-over-month. Net new accounts in August numbered 40,000, bringing the total account base to approximately 4.3 million, with assets under management at $20.2 billion. Goldman Sachs lowered its target price for eToro from $36 to $34, maintaining a Neutral rating. The current price is $30.35, implying an upside potential of 12%.

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