Kraken exchange is close to acquiring NinjaTrader, a U.S. retail futures trading platform, in a record-breaking $1.5 billion deal.
According to a report by The Wall Street Journal, which cited sources familiar with the matter, an official announcement is expected as early as Thursday, Mar. 20.
Through the acquisition, Kraken will be able to leverage NinjaTrader’s Futures Commission Merchant license to increase the range of cryptocurrency futures and derivatives products it offers in the United States.
NinjaTrader, which was established in 2003, serves more than 1.8 million retail investors. The deal would give Kraken access to this user base while also supporting NinjaTrader’s expansion into the UK, Europe, and Australia.
Kraken’s regulatory approvals, including its Electronic Money Institution license from the UK’s Financial Conduct Authority and its MiFID license for the EU, could ease this process.
Kraken’s strong financial position backs the deal. The exchange reported $1.5 billion in revenue for 2024, more than doubling its earnings from the previous year, according to its financial report released on Jan. 31. As per the report, the company holds $42.8 billion in assets and operates 2.5 million funded accounts. It also registered a total trade volume of $665 billion for 2024.
The timing of this acquisition aligns with Kraken’s recent legal victory. On Mar. 3, the exchange announced that the U.S. Securities and Exchange Commission had agreed to dismiss its lawsuit against it with no penalties or admission of wrongdoing. This legal outcome removes a major regulatory challenge as Kraken moves forward with its expansion
Meanwhile, Kraken continues to gain industry recognition. According to a Mar. 19 post on its official blog, Kraken ranked 3rd in Kaiko’s Q1 2025 exchange rankings, up from 7th last year. This is due to improvements in governance, security, and liquidity. It also remains the 10th largest exchange by trading volume, as per CoinMarketCap data.
