Robinhood Completes Acquisition of WonderFi
WonderFi holders finally get their cash as Robinhood checkmates the Canadian crypto exchange
Robinhood Markets, Inc. has completed the indirect acquisition of all outstanding common shares of WonderFi Technologies Inc. for C$0.36 per share in cash, a total equity value of about C$250 million on a fully diluted basis. WonderFi shares will be delisted from the Toronto Stock Exchange on or about June 2, 2026, and the company will apply to cease being a reporting issuer. The closing follows the final regulatory approval from CIRO on May 25, 2026, and marks the end of an arrangement first announced in May 2025.
The completion is the logical conclusion of a well‑telegraphed process. After the CIRO approval on May 25, the stock immediately repriced to the C$0.36 offer level, indicating the market had already priced in a near‑certain closing. The closing announcement contains no new terms, no improved consideration, and no element of surprise. For shareholders, it removes the negligible remaining risk that the deal might collapse; for the market, it merely confirms a fait accompli. Therefore, the news is Routine – Positive: it is positive for certainty of cash delivery but utterly expected.
WonderFi Technologies Inc. was a Canadian cryptocurrency exchange operator, owning regulated platforms Bitbuy and Coinsquare. Together they held over C$2.3 billion in client assets under custody (Q3 2025). The flagship project was to become the premier compliant crypto trading hub in Canada, offering a broad slate of digital assets. The Robinhood acquisition effectively transforms WonderFi into the Canadian arm of a global fintech, with the intent to deploy Robinhood’s proprietary technology on the existing licensed infrastructure.