eToro leads $12.5M round in onchain perps exchange Extended

Trading platform eToro said Thursday it led a $12.5 million strategic round in Extended, an onchain exchange for perpetual futures, with Jump Crypto also participating. The details come from eToro's own announcement, reported by The Block; eToro did not disclose a valuation for Extended or its resulting stake.

eToro framed the deal as tied to a partnership with Zengo, the self-custody wallet it acquired earlier this year — a deal Bloomberg valued at roughly $70 million at the time. In a post on X, eToro said the partnership "will focus on expanding access to global financial markets through next-generation on-chain infrastructure" and would "explore opportunities to bridge traditional financial assets and decentralized trading environments." That language is eToro's own marketing, not an independent description of what has been built.

Extended, founded by former Revolut employees, opened trading in late 2024 and runs on StarkWare's onchain scaling engine, StarkEx. Zengo, founded in 2018, is built on multi-party-computation cryptography that removes the need for seed phrases while offering swaps, staking and dApp access; eToro has been folding that tech into its brokerage stack.

Key facts

• Round size: $12.5 million strategic round in Extended, led by eToro, with Jump Crypto participating (eToro via The Block, July 2, 2026).
• The target: Extended — onchain perpetual-futures exchange, founded by ex-Revolut staff, live since late 2024, built on StarkWare's StarkEx (The Block).
• The link: Deal tied to eToro's Zengo wallet, acquired earlier in 2026 at a Bloomberg-reported valuation of ~$70 million (Bloomberg, via The Block).
• eToro crypto earnings: $13 million profit from crypto in Q1 2026 — about 5% of $258 million total net trading profit, down from $46 million in Q1 2025 (eToro Q1 report, via The Block).

The real-world read

Almost everything here traces to a single interested party: eToro's X post. No valuation for Extended, no round terms, and no size of stake were disclosed, and the partnership is described only in aspirational verbs — "explore," "bridge" — not shipped features. Treat the framing as corporate messaging until Extended or eToro publishes specifics.

The timing is worth noting. eToro's own numbers show crypto profit collapsing — from $46 million in Q1 2025 to $13 million a year later, now just 5% of trading profit. A push into onchain perps and self-custody infrastructure reads less like conviction in a hot sector than an attempt to rebuild a shrinking crypto line. That's context the announcement omits.

One sourcing caveat: this is single-sourced secondary reporting from The Block, whose majority investor, Foresight Ventures, invests across crypto — disclosed by the outlet. The underlying figures come from eToro itself and remain unverified against any filing or on-chain record.

Opinion, and whose

eToro's stated rationale — bridging traditional assets and decentralized trading — is the company's own pitch, not an independent assessment. No outside analyst view was available.

Sources

• The Block (Tier 2, reputable secondary), July 2, 2026 — reported eToro's announcement, the round participants, Extended's and Zengo's backgrounds, and eToro's Q1 2026 crypto figures. The Block discloses Foresight Ventures as majority investor.
• eToro's X post (primary, but interested party) — source of the deal, the Jump Crypto participation, and the partnership framing; treat as marketing.
• Bloomberg (cited by The Block) — the ~$70 million Zengo acquisition valuation.

This is news coverage, not financial advice; nothing here is a recommendation to buy or sell anything.