Kraken just dropped a bombshell, announcing a $1.5 billion acquisition of NinjaTrader, one of the top U.S. retail futures trading platforms. This deal, the largest-ever merger between traditional finance (TradFi) and crypto, positions Kraken as a dominant player in U.S. futures trading, while NinjaTrader gains access to a global crypto audience.
With this acquisition, Kraken strengthens its position as a 24/7, always-on trading platform for professional traders, enabling seamless multi-asset trading across crypto, futures, and traditional markets. The deal also accelerates Kraken’s ambitions to expand into equities trading and payments.
Bringing Futures Trading to U.S. Crypto Markets
A major strategic advantage of this deal is NinjaTrader’s Futures Commission Merchant (FCM) license, which is regulated by the U.S. Commodity Futures Trading Commission (CFTC). This provides Kraken with a critical regulatory foothold to offer crypto futures and derivatives to U.S. traders—a service currently limited to offshore platforms.
Find crypto exchanges in United States
Crypto derivatives have long been a high-demand market, with major exchanges like Binance and Bybit dominating the markets with billions in daily trading volume. However, U.S. regulations have made it difficult for domestic exchanges to compete. By acquiring NinjaTrader, Kraken is poised to bridge this gap, allowing American traders to access regulated crypto derivatives without relying on offshore services.
NinjaTrader Gains Access to Millions of Global Users
On the other hand, NinjaTrader benefits massively from this acquisition by tapping into Kraken’s 15 million+ global users. Previously, NinjaTrader’s audience was primarily focused on U.S. retail futures traders. Now, with Kraken’s global presence and regulatory licenses in the U.K., Europe, and Australia, NinjaTrader can expand into new international markets at an accelerated pace.
Kraken’s co-CEO, Arjun Sethi, emphasized the long-term vision of this acquisition:
“Traditional markets run on outdated financial systems with exchanges that close at 4 p.m. and settlement delays that take days. Crypto solved these issues with real-time infrastructure, but TradFi and crypto have remained separate—until today. This deal is the first step toward an institutional-grade trading platform where any asset can be traded, anytime.”
With this acquisition, Kraken and NinjaTrader are building a seamless, multi-asset trading ecosystem that integrates crypto, futures, stocks, and other financial products. This marks a new era of professional trading, where both traditional and digital asset traders can access the tools they need in one place.
Futures Trading in the U.S. is About to Become the Norm
Crypto futures trading in the U.S. is rapidly shifting from a niche offering to a mainstream financial tool. With the new administration taking a more pragmatic approach to crypto regulation, major exchanges are moving fast to expand their services. Just last month, Coinbase announced plans to bring crypto futures trading to U.S. customers, following years of regulatory hurdles. This comes on the heels of Kraken relaunching its staking services in the U.S.—a bold move after regulatory scrutiny forced it to shut down.
The momentum doesn’t stop there. In January, Crypto.com launched stock and ETF trading for U.S. customers, further blurring the line between crypto and traditional finance. Meanwhile, in February, Binance.US finally restored ACH/USD deposits and withdrawals, allowing users to move funds more freely after months of banking restrictions.
Kraken also recently received a MiFID license for regulated derivatives trading in the EU. Earlier this month, the exchange also obtained EMI (Electronic Money Institution) authorization in the United Kingdom, bringing its total regulatory licenses and approvals to 14.
With Kraken’s acquisition of NinjaTrader, it’s clear that the U.S. is entering a new era of multi-asset trading, where crypto, futures, stocks, and ETFs coexist on the same platforms. As regulatory clarity improves and demand grows, crypto futures trading could soon be as common as trading stocks—and Kraken is making sure it’s ahead of the curve.
What’s Next For Kraken?
The acquisition is expected to close in the first half of 2025, pending regulatory approvals. NinjaTrader will continue to operate as a standalone platform under Kraken’s umbrella, ensuring existing users retain their familiar trading experience while gaining access to new opportunities.
With Kraken’s expertise in crypto trading and NinjaTrader’s futures capabilities, this deal is set to reshape trading in both US and worldwide, offering professional traders a next-generation platform with global reach, deep liquidity, and cutting-edge trading technology.
