Reports are circulating that the Kraken exchange is preparing to purchase NinjaTrader, a US-based retail futures trading platform, for an incredible $1.5 billion. This would be a historic transaction, potentially the largest of its type in the digital currency sector.
According to sources familiar with the situation, who spoke to the Wall Street Journal, an official announcement may be made as early as Thursday, March 20.
The purchase would provide Kraken with a substantial advantage, giving it access to NinjaTrader’s futures commission merchant license. This would enable Kraken to significantly increase its Gemini to Secure Assets for Evolve ETFs’ Leveraged Crypto Funds futures and derivatives offerings in the United States.
NinjaTrader, which was founded in 2003, has a user base of over 1.8 million retail investors. This agreement would immediately broaden Kraken’s reach while simultaneously opening opportunities for NinjaTrader to grow into the United Kingdom, Europe, and Australia.
Kraken’s existing regulatory approvals, including an Electronic Money Institution license from the UK’s Financial Conduct Authority and an EU MiFID license, may ease NinjaTrader’s international growth.
Kraken’s financial strength is certainly supporting this move. Their financial accounts, which were released on January 31, revealed a staggering $1.5 billion in revenue for 2024, more than double the previous year. The exchange reported holding $42.8 billion in assets, operating 2.5 million funded accounts, and processing a total trading volume of $665 billion in 2024.
This prospective purchase comes on the heels of a major legal victory for Kraken. On March 3, they announced that the US Securities and Exchange Commission (SEC) had agreed to dismiss its lawsuit against them, without any penalties or admission of guilt. This legal victory removes a significant regulatory impediment to Kraken’s expansion ambitions.
Kraken is also rising in industry rankings, adding to the positive momentum. According to a blog post on March 19, Kraken rose to third place in Kaiko’s Q1 2025 exchange rankings, up from seventh place last year.
The scenario has gotten better because of greater oversight, safety protocols, and cash flow. Per CoinMarketCap, it is still the tenth biggest marketplace based on transaction volume, maintaining a considerable spot in the international digital currency sector.
