eToro to acquire Zengo in self-custody push as CEO predicts $250K Bitcoin

EToro is set to acquire self-custodial wallet provider Zengo, and the trading platform’s CEO predicted a Bitcoin rally above $250,000 after another quarter of crypto market downside.

EToro said Wednesday it agreed to acquire self-custodial crypto wallet provider Zengo, deepening the trading platform’s push into onchain products as digital assets remain central to its business.

The deal will let eToro add Zengo’s wallet technology and broaden its offering in areas such as tokenized assets, prediction markets, perpetuals and yield products, according to the company. Terms were not disclosed. Bloomberg reported the transaction is worth about $70 million, mostly in cash, citing a person familiar with the matter.

CEO Yoni Assia said at Paris Blockchain Week during a fireside chat that the acquisition fits eToro’s effort to attract a more crypto native user base while expanding beyond regulated brokerage products into self-custody infrastructure.

Crypto activities have become an important revenue source for the platform. eToro reported total revenue and income of $13.8 billion in 2025, of which $12.98 billion was revenue from crypto assets.

At Paris Blockchain Week, Assia said he expects the current market slowdown to last another quarter before Bitcoin (BTC) returns to an accumulation phase, eventually pushing the token above $250,000.

EToro’s CEO is the latest industry figure to call for a $250,000 Bitcoin price target, following BitMEX co-founder Arthur Hayes and “Rich Dad Poor Dad” author Robert Kiyosaki.

Related: Deutsche Börse invests $200 million in Kraken parent Payward

However, other large companies remain divided on Bitcoin’s trajectory for the rest of the year, with some questioning the relevance of the four-year cycle theory.

Galaxy Digital urged investor caution and described the year ahead as “too chaotic to predict,” citing looming uncertainties such as the US midterm elections and shifting monetary policy.

Regardless of the timeline, a Bitcoin rally to $250,000 would require Bitcoin’s price to increase by about 3.3-fold and implies a $5 trillion market capitalization. This would make BTC the world’s second-largest asset after gold, up from the 12th spot, according to CompaniesMarketCap data.

Magazine: Can Robinhood or Kraken’s tokenized stocks ever be truly decentralized?

Source: CoinTelegraph