TLDR
- Reports highlight Kraken is on the brink of sealing a $1.5 billion purchase of NinjaTrader.
- The agreement might receive official confirmation as early as March 20, 2025.
- With this acquisition, Kraken is poised to introduce cryptocurrency futures and derivatives to the US market.
- Remaining independent, NinjaTrader will continue operating separately, even after falling under Kraken’s expansive umbrella.
- This strategic move echoes Kraken's ambition to broaden its influence across various asset categories.
Poised to make a significant impact, Kraken is nearing the conclusion of a $1.5 billion deal to acquire NinjaTrader, a pivotal move that will enable the exchange to deliver crypto futures and derivatives to its American clientele.
Reports from The Wall Street Journal suggest the acquisition could be publicized as of March 20, signaling Kraken's continued growth, backed by insiders privy to the details.
Whispers in the industry suggest Kraken is drawing closer to striking a substantial $1.5 billion deal for NinjaTrader, a key player in the US retail futures market. https://t.co/9oFX2oopZC
— WSJ Markets (@WSJmarkets) March 19, 2025
A critical aspect of this acquisition lies in NinjaTrader’s status as a registered Futures Commission Merchant, a designation that will empower Kraken to offer crypto futures legally within the United States.
Kraken has been actively expanding its portfolio, with plans afoot for branching into equities and payment services, aligning with its principal focus on cryptocurrency.
NinjaTrader will potentially benefit from this deal, unlocking opportunities to penetrate markets in the UK, continental Europe, and Australia under the aegis of Kraken.
Post-acquisition, NinjaTrader is anticipated to sustain its standalone operations, which will help it maintain its current user base while accessing Kraken's extensive resources.
During 2024, Kraken reported massive financial success with $1.5 billion in revenue and managed a massive trading volume of $665 billion across 2.5 million funded user accounts.
With a robust customer base, NinjaTrader reports having over 1.8 million active users engaging with its futures trading services.
Kraken's decision follows an announcement in November 2024 detailing plans to enhance its product suite. At that time, the company chose to shutter its NFT marketplace to shift focus toward other burgeoning areas.
Regulatory developments appear to favor Kraken's growth ambitions.
Timing appears ideal for Kraken as the SEC dropped its legal action against the exchange in March 2025.
Previously, the SEC alleged Kraken's operations skirted regulations, acting as an unregistered broker, dealer, exchange, and clearinghouse. The case, however, concluded with no fines and without necessitating changes to its business model.
Kraken stands in an advantageous position thanks to current US regulatory landscapes, with President Donald Trump pledging to make the US 'the crypto capital of the world,' offering potentially conducive conditions for crypto entities.
Since its foundation in 2011 by Thanh Luu, Michael Gronager, and Jesse Powell, Kraken has been under the leadership of CEO Amir Orad, a former data analytics leader, since July 2024.
Kraken has consistently ranked among the premier crypto exchanges in trading volumes, handling between $390 million and $4.4 billion in daily trades over the last three months, as per CoinGecko.
Both Kraken and NinjaTrader have yet to publicly comment on this potential acquisition, which, if finalized, would stand as one of the substantial M&As in the crypto sector this year.
