Kraken’s Biggest Move Yet? $1.5B NinjaTrader Acquisition Could Change Everything

Kraken, one of the world’s leading cryptocurrency exchanges, is on the verge of making a game-changing move. According to reports from The Wall Street Journal, Kraken is close to acquiring NinjaTrader, a U.S.-based retail futures trading platform, in a record-breaking $1.5 billion deal. An official announcement is expected as early as Thursday, March 20.

If finalized, this deal will grant Kraken access to NinjaTrader’s Futures Commission Merchant (FCM) license, allowing the exchange to expand its crypto derivatives offerings within the United States. This could be a massive shift for both companies, redefining the futures trading landscape in traditional finance and the crypto sector.

Why This Acquisition Matters

NinjaTrader, founded in 2003, serves over 1.8 million retail investors, primarily in futures trading. By acquiring NinjaTrader, Kraken gains instant access to a well-established user base while also supporting NinjaTrader’s global expansion plans, including Europe, the UK, and Australia.

From a regulatory perspective, Kraken holds a MiFID license for the EU and an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority. These credentials could smooth the way for a more seamless integration of NinjaTrader’s services under Kraken’s expanding global footprint.

Kraken’s Strength in 2024 Fuels the Deal

Kraken’s financial position has never been stronger. The exchange generated $1.5 billion in revenue in 2024, more than doubling its earnings from the previous year. A January 31 financial report highlighted Kraken’s impressive $42.8 billion in assets, 2.5 million funded accounts, and a $665 billion total trade volume for 2024.

With such a robust financial standing, Kraken has the resources and market presence to aggressively expand its offerings, making this acquisition a natural next step. The addition of NinjaTrader’s futures trading capabilities could further solidify Kraken’s dominance in the crypto space.

The Timing Couldn’t Be Better

This acquisition also comes just weeks after Kraken’s major legal victory against the U.S. Securities and Exchange Commission (SEC). On March 3, Kraken announced that the SEC had agreed to dismiss its lawsuit against the exchange without penalties or admissions of wrongdoing. This regulatory win has removed a major obstacle, giving Kraken the confidence to move forward with significant expansion plans.

Adding to its momentum, Kraken has also climbed the ranks in industry recognition. A March 19 blog post from Kraken revealed that the exchange had secured the #3 spot in Kaiko’s Q1 2025 exchange rankings, up from #7 last year. Kaiko cited improvements in governance, security, and liquidity as key factors for Kraken’s rise. Meanwhile, CoinMarketCap data shows that Kraken remains the 10th largest exchange by trading volume.

What’s Next?

With the deal set to close soon, the implications for crypto traders could be monumental. Futures and derivatives trading is a major revenue driver for top crypto exchanges, and Kraken’s entry into this space could shake up the competitive landscape. More importantly, Kraken’s acquisition of NinjaTrader signals a growing convergence between traditional finance and crypto markets—a trend that is only expected to accelerate in the coming years.

As the final details of this acquisition unfold, all eyes will be on Kraken to see how it leverages its biggest deal yet to redefine the future of crypto trading.