Kraken has completed its acquisition of retail Ninjatrader, a well-known US futures trading platform, after announcing a $1.5 billion deal in March.
With this acquisition, Kraken aims to provide access to traditional derivatives within Kraken’s platform. This is because Ninjatrader users will be able to explore the crypto market.
Kraken’s transition to multi-asset trading
“Ninjatrader’s mission was to redefine retail futures trading, making it more accessible, cost-effective and trader-friendly. In our efforts with Kraken, we can bring this vision to a global scale, expand innovative new use cases and unlock innovative new use cases.
“Kraken and Ninjatrader enhance traditional market and crypto integration by providing cutting-edge tools and the ability to quickly move the asset classes demanded by the most sophisticated traders.”
🚨Major news
Kraken acquired @ninjatrader for $1.5 billion and has signed the largest Tradfi + Crypto deal to date.
Another major milestone in our path to becoming the world’s go-to platform for trading anywhere, anytime, anywhere.
Details 👇https://t.co/pdv5hiaub
– Kraken Exchange (@krakenfx) March 20, 2025
This integration allows Kraken to truly provide a multi-asset trading experience. This is a move that coincides with the company’s long-term vision of creating an institutional-grade platform where assets can be traded at any time.
The union will help Kraken strengthen its position in the derivatives market, offering new opportunities for both crypto and traditional financial traders.
Highlights of Kraken’s first quarter performance
Kraken’s first quarter results in 2025 reflect the company’s ability to thrive in a volatile market. Despite slowing market-wide trading activity, Kraken generated gross revenue of $472 million, up 19% year-on-year.
Adjusted EBITDA introduced Kraken’s resilience during market fluctuations, increasing 1% sequentially. Furthermore, total exchange trading volume increased by 29%, showing strong client engagement and increasing market share. Funded accounts rose 26% per year in the first quarter, according to the exchange.
Kraken started with a strong momentum in 2025, navigating the shift market to deliver robust topline growth and disciplined execution, as evidenced by Q1 financial results.
Cross $472 million total revenue
✅Adjusted EBITDA of $187 million (+19% previous year)
✅ Exchange transaction volume…pic.twitter.com/ol8s7jwxba– Kraken Exchange (@krakenfx) May 1, 2025
In addition to the acquisition agreement, the company deployed several new products in the first quarter of 2025, designed to meet the evolving needs of its growing user base.
Additionally, Kraken has introduced a new consumer app designed to make asset building across multiple asset classes more intuitive. The new staking capabilities of the platform available in 37 US states and territories further strengthen Kraken’s leadership in the yield generation services sector.
“Legacy finance and crypto have maintained separate ecosystems to this day. This transaction is the first step in our vision of a facility-grade trading platform where assets can be traded at any time.”