Key Highlights
- Robinhood finalized the purchase of Toronto-headquartered WonderFi for approximately C$250 million ($180 million USD)
- The acquisition includes two regulated Canadian cryptocurrency exchanges: Bitbuy and Coinsquare
- This transaction elevates Robinhood’s international funded customer count beyond 1 million
- Following deal closure, WonderFi was removed from Toronto Stock Exchange listings
- HOOD shares decreased 3.8% on Monday, settling at $90.73
Shares of Robinhood (HOOD) concluded Monday’s trading session at $90.73, marking a 3.8% decline as the company officially completed its WonderFi acquisition.
First unveiled in May 2025, the transaction integrates WonderFi’s Canadian cryptocurrency infrastructure into Robinhood’s expanding ecosystem. The acquisition encompasses Bitbuy, Coinsquare, and Bitcoin.ca — all licensed platforms catering to Canadian retail investors and institutional participants in the digital asset space.
The all-cash transaction valued WonderFi at C$0.36 per outstanding share, reaching a total of approximately C$250 million on a fully diluted basis. Converting to US currency, the purchase price equals roughly $180 million.
Initially scheduled for completion during 2025’s second half, the deal timeline was extended by mutual agreement. The extension allowed Robinhood additional time to implement its proprietary trading infrastructure across Canadian markets while satisfying regulatory requirements.
Final approval came from British Columbia’s Supreme Court on July 21, 2025. WonderFi shareholders had cast their approval votes during a special meeting convened four days prior.
WonderFi shares ceased trading on the Toronto Stock Exchange as markets closed Monday. The company is also anticipated to terminate its status as a reporting issuer under Canada’s securities regulations.
To facilitate the deal structure, Robinhood established Wrangler Holdings Inc. as an acquisition vehicle. WonderFi now functions as a fully-owned Robinhood subsidiary.
Establishing a Canadian Base
Johann Kerbrat, who serves as SVP and General Manager for Robinhood Crypto & International, described WonderFi as “an ideal partner to accelerate Robinhood’s mission in Canada.” He highlighted the company’s proven track record operating compliant platforms serving both novice and sophisticated cryptocurrency traders.
WonderFi’s existing base of roughly 300,000 funded accounts will receive invitations to transition to Robinhood’s platform. This migration propels Robinhood’s international funded customer total above the 1 million milestone.
The company confirmed it will maintain WonderFi’s established institutional partnerships, viewing them as complementary to the institutional cryptocurrency services acquired through its 2024 Bitstamp purchase.
Wall Street Perspectives
KeyBanc continues holding an Overweight recommendation on HOOD stock. Meanwhile, Mizuho elevated its price objective to $115 while reaffirming an Outperform stance, following Robinhood’s introduction of Agentic Trading, its artificial intelligence-powered trading feature.
Robinhood presently commands an $81.9 billion market capitalization and has delivered 42.6% returns to shareholders over the trailing twelve months.
The brokerage firm has also attracted attention for serving as the initial trustee for the Trump Accounts app launched by the US Treasury, which establishes investment accounts for minors.
On the legal front: Robinhood confronts possible US Supreme Court examination regarding IPO-related litigation. The lawsuit claims the company provided misleading information about its financial performance and expansion trajectory to investors.
All broker warrants associated with the WonderFi transaction reached expiration on March 10, 2026, with previous warrant holders receiving no compensation.
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