Kraken to Acquire NinjaTrader in $1.5 Billion Deal to Expand into Futures Trading

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Kraken has signed a definitive agreement to acquire NinjaTrader, a leading U.S.-based retail futures trading platform, for $1.5 billion. The buyout is aimed at increasing Kraken’s portfolio and strengthening its position in the traditional as well as cryptocurrency space.

Kraken’s Move Into Futures and Traditional Finance

Founded in 2003, NinjaTrader serves nearly two million traders and operates as a CFTC-registered Futures Commission Merchant (FCM). The acquisition allows Kraken to enter the U.S. futures market, as NinjaTrader’s FCM license will allow Kraken to offer crypto futures and derivatives in the U.S., complementing its current services considerably. 

With the use of Kraken’s already-acquired licenses within the U.K., Europe, and Australia, NinjaTrader will be able to accelerate its development within these geographies, creating additional opportunities for customers to trade.

The combined platform is expected to offer clients a unified ecosystem where they can trade across cryptocurrencies, futures, and traditional financial products, streamlining access to multiple asset classes.

Executive Insights: Why This Deal Is Important 

Kraken co-CEO Arjun Sethi was clear on what made this deal so important, describing it as a step toward merging the crypto and traditional financial ecosystems.

“Traditional markets operate on 1950s-era banking systems, with exchanges that close at 4 p.m. ET and settlement processes that take days to complete,” Sethi said. “Crypto infrastructure has solved these issues with real-time, 24/7 efficiency. Until now, crypto and legacy finance have remained separate. This deal is the first step toward building an institutional-grade trading platform where any asset can be traded, at any time.”

NinjaTrader CEO Marty Franchi agreed with Sethi’s views, highlighting the opportunities the acquisition will unlock for the platform’s customers. “NinjaTrader’s mission has always been to make retail futures trading more accessible, affordable, and user-friendly,” Franchi said. “Partnering with Kraken allows us to expand our reach globally and introduce new trading solutions that will benefit both retail and institutional traders.”

Shifting Market Dynamics: What It Means for Crypto and Traditional Finance

The acquisition represents one of the largest deals to date involving a crypto exchange and a traditional finance platform. Through bridging traditional financial assets with digital currency, Kraken aims to provide customers with an even stronger set of trade utilities.

Kraken’s access to NinjaTrader’s FCM license also positions the company to navigate the complex U.S. regulatory landscape more effectively, particularly in offering regulated futures products. The combined experience of both companies is bound to lead to the development of new financial products that meet the growing needs of modern traders and investors.

What’s Next: Kraken’s Plan Following the Acquisition

The deal is subject to standard closing conditions and is expected to close in the first half of 2025. NinjaTrader will continue to operate as an independent platform within Kraken’s trading and payments ecosystem.

The acquisition reflects Kraken’s long-term strategy of building a comprehensive trading platform that serves both traditional and digital asset classes.