Kraken nears $1.5B deal allowing it to offer US crypto futures: Report
Crypto exchange Kraken is set to make a significant move with a reported $1.5 billion acquisition of trading platform NinjaTrader. This deal, which The Wall Street Journal indicated could be confirmed as early as March 20, promises to extend Kraken’s services to include crypto futures and derivatives in the U.S. market.
The acquisition aligns with Kraken’s ongoing strategy to diversify its offerings across various asset classes, including potential expansions into equities trading and payments. NinjaTrader, already a prominent name in futures trading, holds a valuable registration as a Futures Commission Merchant, facilitating this expansion. Sources have indicated that the NinjaTrader platform will continue to operate independently under the Kraken umbrella, allowing it to tap into new markets in the U.K., continental Europe, and Australia.
This acquisition follows Kraken’s impressive performance report, which detailed $1.5 billion in revenue and $665 billion in trading volume from approximately 2.5 million funded accounts in 2024. In comparison, NinjaTrader is also making waves in the futures space, with over 1.8 million customers utilizing its trading tools.
Kraken’s acquisition plans come after the exchange announced its intention last November to broaden its product offerings, notably shutting down its non-fungible token (NFT) marketplace to focus on core areas. Such decisions indicate a sharper focus on areas expected to yield higher growth and profit margins.
On the regulatory front, Kraken recently saw a dismissal of a lawsuit from the U.S. Securities and Exchange Commission, which had initially alleged that the platform acted as an unregistered broker. The case was closed without penalties or admissions of wrongdoing, allowing Kraken to continue its operations without disruption.
As the landscape for crypto exchanges continues to evolve, Kraken’s prospective acquisition of NinjaTrader signals a bold step towards establishing a more comprehensive trading platform that caters to diverse investor needs. The developments take place against a backdrop of a potentially more favorable regulatory environment under the current U.S. administration, which has signaled intentions to support the growth of cryptocurrency markets in the nation.
Founded in 2011 by Thanh Luu, Michael Gronager, and former CEO Jesse Powell, Kraken has positioned itself among the top exchanges globally, frequently ranking within the top 15 based on spot trading volume, handling daily trades between $390 million and $4.4 billion in recent months. With the potential merger with NinjaTrader on the horizon, Kraken appears ready to solidify its status as a key player in the rapidly changing crypto trading ecosystem.
