A historic $1.5 billion acquisition that marks a new chapter in multi-asset trading
In a groundbreaking move that signals the convergence of traditional finance and cryptocurrency markets, Kraken has announced its acquisition of NinjaTrader, the leading U.S. retail futures trading platform, for $1.5 billion. This transaction, expected to close in the first half of 2025, represents the largest-ever deal combining traditional finance (TradFi) and crypto.
Creating a 24/7 Trading Powerhouse
The acquisition strategically positions Kraken as a comprehensive trading platform built for professional traders who demand access to multiple asset classes around the clock. By combining Kraken's expertise in cryptocurrency with NinjaTrader's established presence in futures trading, the merged entity aims to deliver a seamless trading experience across different market segments.
"Traditional markets run on banking systems from the 1950s and post-WWII, exchanges that close at 4 p.m. ET, and settlement delays that take days to resolve. Crypto rails fixed these issues, operating with efficient and real-time infrastructure," explains Arjun Sethi, Kraken's co-CEO. "This transaction is the first step in our vision of an institutional-grade trading platform where any asset can be traded, anytime."
Strategic Benefits for Traders
The integration of NinjaTrader into Kraken's ecosystem brings several key advantages:
- U.S. Futures Trading: NinjaTrader's CFTC-registered Futures Commission Merchant (FCM) license opens the door for Kraken to offer crypto futures and derivatives in the U.S. market.
- Global Expansion: Kraken's existing regulatory licenses in the U.K., EU, and Australia will accelerate NinjaTrader's international growth.
- Multi-Asset Trading: Clients from both platforms will gain the ability to trade across crypto, futures, and traditional financial products within a unified environment.
- Professional Trading Tools: The merger combines NinjaTrader's advanced analytics and execution engines with Kraken's crypto liquidity and trading expertise.
Marty Franchi, CEO of NinjaTrader, shared his enthusiasm: "NinjaTrader's mission has been to redefine retail futures trading, making it more accessible, cost-effective and trader-friendly. Joining forces with Kraken allows us to take this vision to a global scale, expanding our reach and unlocking innovative new use cases."
Continuation of NinjaTrader's Services
Following the acquisition, NinjaTrader will continue to operate as a standalone platform under the Kraken suite of trading and payments applications. Current NinjaTrader clients can look forward to an expanded array of trading opportunities while maintaining access to the tools and features they've come to rely on.
A History of Successful Integrations
This acquisition adds to Kraken's track record of successful integrations, including Cryptowatch (real-time analytics), Crypto Facilities (regulated derivatives), CF Benchmarks (index provider), and Staked (staking infrastructure).
Looking Ahead
The Kraken-NinjaTrader deal represents a significant milestone in the evolution of financial markets. By bridging the gap between traditional and crypto trading, Kraken is positioning itself at the forefront of a new era in finance—one where the boundaries between different asset classes are increasingly blurred, and traders can move seamlessly between markets.
With plans to expand into equities trading and payments, Kraken's vision extends beyond this acquisition. The company is building toward a future where financial markets are more accessible, efficient, and interconnected than ever before.
The transaction is subject to customary closing conditions and is expected to close in the first half of 2025.
