Kraken completed its acquisition of retail NinjaTrader, a prominent U.S. futures trading platform, after announcing the $1.5 billion transaction in March.
With this acquisition, Kraken aims to offer access to traditional derivatives within Kraken’s platform, as NinjaTrader users will be able to explore crypto markets, according to the two companies.
Kraken’s Move into Multi-Asset Trading
“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,” said Marty Franchi, CEO of NinjaTrader.
“Together, Kraken and NinjaTrader will power the integration of traditional markets with crypto by offering cutting-edge tools and the ability to rapidly move across asset classes that the most sophisticated traders demand.”
🚨 MASSIVE NEWS 🚨
Kraken is acquiring @NinjaTrader for $1.5B, locking in the largest TradFi + crypto deal ever.
Another huge milestone on our road to becoming the world’s go-to platform for trading anything, anytime, anywhere.
More details 👇https://t.co/Pdv5hiAAub
— Kraken Exchange (@krakenfx) March 20, 2025
This integration allows Kraken to offer a truly multi-asset trading experience, a move that aligns with the company’s long-term vision of building an institutional-grade platform where any asset can be traded anytime.
This union will help Kraken enhance its position in the derivatives market, offering new opportunities for both crypto and traditional finance traders.
Kraken’s Q1 Performance Highlights
Kraken’s first-quarter results for 2025 reflect the company’s ability to thrive in a volatile market. Despite a slowdown in overall market trading activity, Kraken generated $472 million in gross revenue, marking a 19% increase year-over-year.
Adjusted EBITDA grew by 1% sequentially, showcasing Kraken’s resilience during market fluctuations. Furthermore, the total exchange trading volume rose by 29%, signaling strong client engagement and expanding market share. According to the exchange, funded accounts increased 26% yeaor-over-year during the first quarter.
Kraken began 2025 with strong momentum, navigating a shifting market to deliver robust topline growth and disciplined execution, as evident in our Q1 financial results:
✅ $472 million gross revenue
✅ Adjusted EBITDA of $187 million (+19% YoY)
✅ Exchange trading volume… pic.twitter.com/OL8S7jWXbA— Kraken Exchange (@krakenfx) May 1, 2025
In addition to the acquisition deal, the company rolled out several new products in the first quarter of 2025 designed to meet the evolving needs of its growing user base.
Additionally, Kraken introduced a new consumer app designed to make wealth-building across multiple asset classes more intuitive. The platform’s new staking features, available in 37 U.S. states and territories, further solidify Kraken’s leadership in the yield-generating services sector.
“Legacy finance and crypto have remained separate ecosystems until today. This transaction is the first step in our vision of an institutional-grade trading platform where any asset can be traded anytime,” added Arjun Sethi, Kraken’s co-CEO.
