Robinhood's WonderFi Acquisition Clears Final Hurdle, Set to Close June 1

Robinhood Markets has secured the final regulatory approval needed to complete its acquisition of Canadian crypto firm WonderFi, setting June 1 as the closing date. The deal, valued at CA$250 million (roughly $180 million), marks a strategic entry into Canada's regulated digital asset market.

The Canadian Investment Regulatory Organization (CIRO) approved WonderFi's subsidiary Coinsquare Capital Markets on May 20, according to a press release from WonderFi. This was the last outstanding approval required for the transaction, which had been pending for nearly a year after being announced in May 2025.

Strategic Rationale

For Robinhood, the acquisition provides an instant foothold in Canada's crypto ecosystem without the need to build local infrastructure from scratch. WonderFi operates three regulated brands: Bitbuy, Coinsquare, and Bitcoin(dot)ca, all of which are licensed under Canadian securities laws. The CIRO approval specifically covers Coinsquare Capital Markets, a core regulated subsidiary.

Analysts estimate the acquisition could boost Robinhood's revenue by up to 10%, as the company expands its crypto product suite beyond the U.S. market. Robinhood is publicly traded on Nasdaq and has been actively pursuing international expansion, with the WonderFi deal representing its largest crypto-related move to date.

Timeline and Regulatory Process

The deal originally targeted a closing in the second half of 2025 but was extended to allow Robinhood to complete regulatory requirements and deploy its proprietary technology in Canada. Shareholders approved the transaction at a special meeting in July 2025, followed by a final court order from the Supreme Court of British Columbia four days later. CIRO's approval was the final step in a multi-stage regulatory process.

Key Takeaways

1. Robinhood's $180M acquisition of WonderFi receives CIRO approval, closing on June 1.
2. The deal gives Robinhood access to regulated crypto brands Bitbuy, Coinsquare, and Bitcoin(dot)ca.
3. Analysts estimate a potential 10% revenue boost for Robinhood from the acquisition.

Sources: CoinMarketCap Academy, CoinMarketCap Academy (duplicate)