Kraken Close to $1.5B NinjaTrader Acquisition to Lead U.S. Crypto Futures

Founded in 2011, Kraken has established itself as a reputable platform for trading various digital assets, including Bitcoin and Ethereum. The company's revenue more than doubled to $1.5 billion in 2024, with adjusted earnings of $380 million, reflecting its robust growth trajectory. The acquisition of NinjaTrader aligns with Kraken's strategic goals to diversify its offerings across multiple asset classes, including equities and payments. By integrating NinjaTrader's capabilities, Kraken aims to provide its users with access to crypto futures and derivatives trading within the U.S., a market segment that has been gaining substantial traction.

Established in 2003, NinjaTrader offers futures trading tools to over 1.8 million customers, making it a significant player in the retail futures trading space. The platform's registration as a Futures Commission Merchant (FCM) is particularly valuable to Kraken, as it enables the exchange to offer crypto futures and derivatives in the U.S. without facing substantial regulatory hurdles. This strategic move allows Kraken to leverage NinjaTrader's existing regulatory approvals and infrastructure to expedite its entry into the U.S. derivatives market.

WSJ Markets confirmed the news on X, stating:

Beyond the U.S. market, Kraken plans to utilize this acquisition to bolster NinjaTrader's expansion into international markets, including the U.K., continental Europe, and Australia. This aligns with Kraken's broader vision of becoming a global platform offering a wide array of financial services. Notably, NinjaTrader is expected to continue operating as a standalone platform within Kraken's suite of trading and payment applications, ensuring continuity for its existing user base while benefiting from Kraken's resources and expertise.

The timing of this acquisition is noteworthy, as it comes amid a more favorable regulatory environment for the crypto industry under President Trump's administration, which has been perceived as supportive of cryptocurrency initiatives. Earlier this month, the Securities and Exchange Commission (SEC) agreed to drop a lawsuit against Kraken that sought to regulate the company as a stock exchange, signaling a more accommodating regulatory stance.

This acquisition also positions Kraken to compete more effectively with other major cryptocurrency exchanges, such as Coinbase Global, which reported over $6 billion in revenue in 2024. By offering a broader range of services, including futures and derivatives trading, Kraken aims to attract a more diverse clientele and increase its market share in the rapidly evolving crypto industry.

Kraken's impending acquisition of NinjaTrader represents a strategic effort to diversify its service offerings and strengthen its position in both domestic and international markets. By integrating NinjaTrader's robust futures trading platform and regulatory licenses, Kraken is poised to offer comprehensive trading solutions that cater to the evolving needs of its users. This move underscores the dynamic nature of the cryptocurrency industry, where leading exchanges are continually adapting and expanding to meet the growing demand for diverse financial products and services.