TL;DR

Kraken is reportedly in final negotiations to acquire NinjaTrader for $1.5 billion, signaling its expansion into futures trading and a broader asset class portfolio.
The acquisition would allow Kraken to enter the U.S. futures market through NinjaTrader’s Futures Commission Merchant status while maintaining the platform as an independent entity.
Kraken is leveraging this deal to accelerate its global expansion, enhance its trading offerings, and position itself for a potential IPO in early 2026.

Cryptocurrency exchange Kraken is reportedly in advanced talks to acquire NinjaTrader, a leading futures trading platform, for an estimated $1.5 billion. This strategic move aims to extend Kraken’s influence beyond the crypto spot market into regulated futures trading, giving it a stronger foothold in the evolving financial ecosystem.

While neither company has officially confirmed the deal, sources familiar with the matter indicate that an agreement could be finalized as early as March 20. If successful, this acquisition would enable Kraken to offer crypto futures and derivatives within the U.S. market, leveraging NinjaTrader’s Futures Commission Merchant (FCM) status.

Strengthening Kraken’s Multi-Asset Strategy

NinjaTrader, a well-established platform with a user base of 1.9 million traders, offers a comprehensive suite of trading tools, including advanced charting, analytics, and simulation features. The firm generates approximately $55.3 million in annual revenue, according to financial data provider Growjo.

By integrating NinjaTrader, Kraken is not only gaining access to regulated futures trading but also reinforcing its broader ambitions to expand across various asset classes. The deal aligns with Kraken’s ongoing initiatives, including plans to introduce equities trading and advanced payment solutions. This multi-asset approach could position Kraken as a formidable competitor to traditional brokerages and trading platforms.

Kraken’s Continued Growth and Future Prospects

Kraken has seen substantial growth in recent years, reporting $1.5 billion in revenue and $380 million in adjusted earnings for 2024. Additionally, the exchange has climbed to third place in Kaiko’s Q1 2025 exchange rankings, up from seventh place the previous year. This upward trajectory underscores Kraken’s increasing dominance in the centralized crypto exchange sector.

To further strengthen its infrastructure, Kraken recently launched a colocation service on March 17. This initiative aims to enhance execution speeds and optimize trading performance for institutional clients, ensuring competitive access to global crypto markets.

Looking ahead, Kraken is reportedly considering going public as early as Q1 2026. This potential IPO comes after the U.S. SEC dropped its lawsuit against the exchange, removing a significant regulatory obstacle. With the NinjaTrader acquisition on the horizon, Kraken is positioning itself as a major player in the broader financial landscape.

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Filed under: News - @ March 20, 2025 2:23 pm