Kraken Expands Multi-Asset Strategy with $1.5 Billion NinjaTrader Acquisition

Kraken, the US-based crypto exchange, has announced plans to acquire retail futures trading platform NinjaTrader for $1.5 billion, marking what it calls the “largest-ever deal combining TradFi and crypto.”

Strengthening Kraken’s Trading Ecosystem

Founded in 2003, NinjaTrader is a CFTC-registered Futures Commission Merchant (FCM) with a cloud-based trading platform offering trade management tools and order flow analysis. The platform currently serves approximately 1.8 million users.

Kraken states that the acquisition supports its broader multi-asset ambitions, including equities trading and payments. The deal will provide clients of both platforms with access to crypto, futures, and traditional financial products. Additionally, Kraken will be able to offer crypto futures and derivatives in the US through NinjaTrader’s FCM license.

Kraken’s co-CEO, Arjun Sethi, emphasized that legacy finance and crypto have traditionally operated in separate ecosystems. He described the acquisition as the “first step in our vision of an institutional-grade trading platform where any asset can be traded, anytime.”

Expanding Global Footprint of Kraken

Once the deal closes in the first half of 2025, NinjaTrader will continue operating as an independent platform within Kraken’s trading and payments ecosystem. The acquisition adds to Kraken’s history of strategic expansions, including the purchases of Cryptowatch in 2017, Crypto Facilities in 2019, and Staked in 2021.

Kraken, founded in 2011, recently secured an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA), allowing it to introduce new crypto offerings in the UK. The exchange currently serves over 13 million users, offering trading for more than 350 digital assets and six national currencies.

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