In a landmark move for the digital asset world, Kraken has announced its acquisition of futures trading platform NinjaTrader for $1.5 billion. This marks the largest-ever merger between a crypto exchange and a traditional finance company — a bold step towards unifying global markets.

A Strategic Bridge Between Markets

Kraken co-CEO Arjun Sethi described the acquisition as part of Kraken’s long-term vision to build infrastructure that supports the broader financial future.

“We’re creating the infrastructure for anyone — traders, developers, and partners — to engage with the future of finance,” he wrote on X.

By integrating NinjaTrader’s robust futures platform, Kraken aims to offer users seamless access to crypto, traditional finance, and futures products, all under one umbrella.

Regulatory Boost for Both Sides

The deal offers regulatory advantages for both parties. NinjaTrader’s Commodity Futures Trading Commission (CFTC) licence will enable Kraken to offer crypto derivatives legally in the U.S. Meanwhile, Kraken’s licences in the UK, EU, and Australia will help NinjaTrader expand internationally.

This strategic alignment could position Kraken as one of the few platforms offering regulated access to both crypto and traditional assets, giving it a distinct edge in the evolving financial ecosystem.

NinjaTrader to Operate Independently (For Now)

Although the acquisition is expected to close by Q2 2025, Kraken has confirmed that NinjaTrader will continue as a standalone platform. Over time, its clients will gain access to more asset classes and trading tools, with the potential for deeper integration into Kraken’s offerings.

NinjaTrader CEO Marty Franchi called the deal a natural next step:

“Joining forces with Kraken allows us to take our vision of accessible, trader-friendly futures trading to a global scale.”

Regulatory Winds Turning Favourable

The acquisition comes shortly after the SEC dropped its lawsuit against Kraken, which had accused the exchange of operating as an unregistered broker and commingling customer funds. Kraken hailed the decision as the end of a “politically motivated campaign” and a green light for innovation.

This is part of a broader shift in U.S. regulatory tone. The SEC recently dropped cases against Coinbase, Robinhood, and Ripple, suggesting a more cooperative approach to crypto governance.

Arjun Sethi credited former President Donald Trump for catalysing this change, calling him “the first pro-crypto U.S. president.” Trump has since embraced the industry, launching a memecoin, supporting stablecoins, and declaring his ambition to make the U.S. the “Crypto Capital of the World.”