eToro CEO Yoni Assia Touts AI for Retail Investors; Firm Reports Modest Q3 Growth

​Yoni Assia, CEO of eToro, stated that artificial intelligence could provide retail investors with access to insights previously reserved for high-level hedge funds. In comments made to Yahoo Finance, Assia noted that AI has processed vast amounts of information from top investors.

He suggested this technology could put "power that was available only to the top, top quantitative, most sophisticated hedge funds" into the hands of retail investors.

eToro launched a set of AI tools in August, including a chatbot named "Tori" that can analyze user portfolios. Assia explained that users could potentially simulate the strategies of famous investors, remarking, "I want their personas…to comment on my portfolio... And then I want to rebalance my portfolio based on their insights."

Separately, eToro reported its third-quarter financial results, showing modest growth. Net income for the quarter rose to $57 million, with net contribution reaching $215 million. The company's revenue grew 28% year-over-year, driven primarily by cryptocurrency trading.

The platform added 100,000 funded accounts in Q3, bringing its total to 3.73 million. Assets under administration reached $20.8 billion. The company's board also approved a $150 million share buyback program, and the firm is reportedly exploring an expansion into prediction markets.