Cryptocurrency exchange Kraken is reportedly nearing the completion of a $1.5 billion acquisition of NinjaTrader, which could greatly broaden its reach in the US crypto futures and derivatives markets.
According to a March 19, 2025 report from The Wall Street Journal, this deal might be officially announced as soon as March 20, 2025. The acquisition will enable Kraken to leverage NinjaTrader’s registration as a Futures Commission Merchant, thus allowing it to offer crypto futures products to US clientele.
Kraken’s Plans to Broaden Offerings
This initiative aligns with Kraken’s strategy to diversify its services across different asset classes, incorporating equities trading and payment solutions into its portfolio. The acquisition also positions NinjaTrader to expand internationally, with potential growth into markets such as the UK, Europe, and Australia, as per sources from WSJ. Despite the acquisition, NinjaTrader is expected to continue operating independently.
Kraken has recently performed robustly financially, recording $1.5 billion in revenue and $665 billion in trading volume from 2.5 million funded accounts in 2024. Meanwhile, NinjaTrader provides its futures trading tools to over 1.8 million customers. Kraken had previously indicated its intentions to expand its product lineup by discontinuing its non-fungible token (NFT) marketplace last November.
The anticipated acquisition comes shortly after the U.S. Securities and Exchange Commission (SEC) dropped its lawsuit against Kraken on March 3. The SEC had alleged that Kraken was operating as an unregistered broker, dealer, and exchange, but the case was dismissed without penalties or required changes to Kraken’s business practices.
The regulatory climate in the U.S. is evolving to favor crypto-friendly policies, with President Donald Trump committed to establishing the U.S. as the “crypto capital” of the world. Kraken is among the firms likely to gain from this shift as it seeks to expand its operations further.
Founded in 2011 by Thanh Luu, Michael Gronager, and Jesse Powell, Kraken remains a prominent entity in the crypto exchange arena. Under the leadership of current CEO Amir Orad, Kraken ranks as one of the top exchanges globally, conducting daily trades that range from $390 million to $4.4 billion, according to CoinGecko data.
Kraken’s Future IPO Plans
Kraken is preparing for an initial public offering (IPO) as early as the first quarter of 2026. The company is looking to leverage the increasingly crypto-friendly regulatory environment under President Trump.
Recently, Kraken shared its financial highlights from 2024, revealing a significant increase in revenue and earnings. The potential for Kraken’s public listing had previously faced delays due to regulatory obstacles during the Biden administration. Trump’s supportive stance has rekindled optimism within the crypto industry, as he is expected to meet with numerous crypto leaders, including Kraken Co-CEO Arjun Sethi, at the White House.
