Cryptocurrency Exchange Kraken Agrees to Buy Futures Platform NinjaTrader for $1.5 Billion

Kraken to Acquire NinjaTrader for $1.5 Billion to Enter US Crypto Futures Market

The deal could be a way for the cryptocurrency exchange to move into a new asset class and grow its user base.

Author: Parikshit Mishra, Jamie Crowley | Edited by: Sheldon Reback Updated: Mar 20, 2025 5:24 PM UTC Published: Mar 20, 2025 5:57 AM UTC

Key points:

• Cryptocurrency exchange Kraken plans to buy American futures platform NinjaTrader for $1.5 billion.
• With this acquisition, Kraken will be able to offer cryptocurrency futures and derivatives in the US market.
• Kraken's UK, EU and Australian licenses will help NinjaTrader expand its operations.

Cryptocurrency exchange Kraken has announced its intention to acquire the NinjaTrader platform for $1.5 billion in order to expand its offering to include cryptocurrency futures and derivatives trading in the US market.

NinjaTrader, a CFTC-licensed platform, was founded in 2003 and provides futures trading tools to nearly 2 million clients. Kraken has 15 million users worldwide, according to a press release published Thursday. Kraken’s licenses in the U.K., EU, and Australia will help Chicago-based NinjaTrader expand in those regions.

By subscribing, you will receive notifications about CoinDesk products and agree to our terms of use and privacy policy .

Kraken is aiming to capture a significant share of the crypto derivatives market. The exchange’s derivatives trading volume is about $1.2 billion in 24 hours, significantly smaller than exchanges like Binance and OKX, which have tens of billions in volume, according to CoinMarketCap data. Last month, CoinDesk reported, citing people familiar with the matter, that Kraken was in talks to acquire options exchange Deribit for up to $5 billion.

“This deal is the first step toward realizing our vision of an institutional-grade trading platform where anyone can trade any asset at any time,” said Arjun Sethi, co-CEO of Kraken.

Earlier this month, the U.S. Securities and Exchange Commission (SEC) dropped a lawsuit filed in November 2023 that alleged the San Francisco-based exchange commingled client and corporate funds and acted as an unregistered securities broker.

In January, Kraken relaunched staking for US clients, which, along with the acquisition of CFTC-licensed platform NinjaTrader, may indicate a greater focus on the US market amid the changing regulatory regime under the Trump administration.

The transaction, which has not yet been finalized, is expected to close by the end of the first half of 2025.

The Wall Street Journal previously reported on the deal, citing informed sources.

UPDATE (March 20, 12:37 UTC): Derivatives trading volumes are growing, Deribit talks in the third paragraph, SEC lawsuit in the fifth.

Источник