Kraken to Acquire Futures Platform NinjaTrader in $1.5 Billion Deal

Global crypto exchange Kraken is set to acquire NinjaTrader, a major retail futures trading platform, in a $1.5 billion deal. The move marks Kraken’s first foray into crypto futures and derivatives trading in the U.S., while also accelerating its expansion into traditional finance markets.

Kraken’s Strategic Expansion

NinjaTrader, which serves nearly two million users, is registered as a Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC). Kraken announced on Thursday that the deal is expected to close in the first half of 2025, pending purchase price adjustments.

The acquisition not only strengthens Kraken’s presence in regulated U.S. derivatives markets but also paves the way for its entry into equities trading and payment services.

“This transaction is the first step in our vision of an institutional-grade trading platform where any asset can be traded, anytime,” said Arjun Sethi, Kraken’s co-CEO.

A Standalone Future for NinjaTrader

Despite the acquisition, NinjaTrader will continue to operate as an independent entity, maintaining its brand and operations. However, Kraken’s international regulatory licenses in the UK, Europe, and Australia will provide a boost for NinjaTrader’s global expansion.

Kraken Eyes Public Listing Amid Regulatory Shift

Kraken’s move comes amid a shifting U.S. regulatory landscape under President Donald Trump’s administration, which has adopted a pro-crypto stance. The firm is reportedly preparing to go public as early as Q1 2026, seizing on improving conditions for crypto firms in the U.S.

The company has also navigated legal challenges, including a settlement with the SEC in 2023 and a separate legal dispute that was dropped earlier this month without charges or penalties.