Crypto trading remained the backbone of eToro’s business in the second quarter, generating roughly 91% of the company’s total revenue, according to its latest

That’s down slightly from the 93% share recorded in the first quarter, suggesting a modest increase in the contribution from equities and other trading segments.

For the three months ended June 30, revenue from cryptoassets totaled $1.91 billion, hit by a small net loss of $8.4 million from crypto derivatives trading.

After subtracting the $1.88 billion cost of cryptoasset revenue, digital asset trading still made up the vast majority of eToro’s $2.09 billion in total revenue, the filing shows.

In , crypto-related revenue reached $3.5 billion, with an additional $77 million gain from crypto derivatives, accounting for more than 93% of the company’s $3.76 billion total revenue.

The company has been increasingly betting on crypto. Last month, it unveiled plans to on the Ethereum blockchain to enhance its trading capabilities.

Etoro went public at $52 a share back in May, raising about $310 million from its Nasdaq listing. The company's shares are now trading at $50.7, down more than 8.2% since its trading debut.