eToro invests $12.5M in onchain derivatives platform Extended
eToro led a $12.5 million funding round for Extended, an onchain perpetual futures exchange, signaling growing broker interest in DeFi.
Digital broker eToro has invested in onchain derivatives platform Extended, leading a $12.5 million funding round that also included Jump Crypto and Alber Blanc. Extended is a perpetual futures exchange founded by former Revolut employees, and the investment builds on eToro's recent $70 million acquisition of self-custody wallet Zengo.
The move reflects a broader trend of traditional brokerages racing to integrate decentralized finance (DeFi) products for mainstream investors. By backing Extended, eToro gains exposure to the rapidly growing onchain derivatives market, which offers 24/7 trading and self-custody features that appeal to crypto-native users. For cryptocurrency traders, this signals increasing institutional validation of DeFi infrastructure, potentially driving more liquidity and innovation in the space. Traders can monitor the impact of such developments on NowPrice's live crypto dashboard.
Looking ahead, the success of Extended will depend on its ability to attract users and liquidity in a competitive landscape dominated by platforms like dYdX and GMX. eToro's broader onchain strategy, including the Zengo wallet acquisition, suggests a long-term bet on self-custody and DeFi access. Investors will watch for further partnerships or product launches as the broker deepens its blockchain integration.