Robinhood steps on Wealthsimple’s turf with $250M crypto acquisition

Eli Rodney
May 13, 2025
Power Corporation of Canada+1 more

Yesterday Robinhood (HOOD) announced its entry into the Canadian crypto market with the $250M acquisition of WonderFi Technologies (WNDR), a roll-up story with >$2B of client assets.

The immediate strategic rationale of the deal is a crypto land grab, given it’s outsized contribution to HOOD’s results…

… but WonderFi’s Investment Dealer license leaves the door open for an expansion into traditional brokerage services too. With a bigger balance sheet and top tech talent, Wealthsimple (54% owned by Power Corp.) and Questrade have competition.

Get smarter on Canadian markets

Get our insight-packed coverage of Canadian markets delivered to your inbox 3x per week in 5 minutes or less.

You might be interested in...

Residential real estate recap: time for a rotation out of Alberta?
Subscribers

Residential real estate recap: time for a rotation out of Alberta?

Eli Rodney

Building permits and housing starts show a rebound in multi-unit

Building permits and housing starts show a rebound in multi-unit

Eli Rodney

Disclaimer: Bullpen Finance Inc. is not a registered investment advisor. The information provided is for educational purposes only and should not be considered investment advice. See our terms of service for more information.

Get smarter on Canadian markets

Get The Morning Meeting, our insight-packed Canadian markets newsletter delivered to your inbox 3x per week.

Read by professionals from:

Bank of Montreal
Toronto Dominion Bank
Bank of Nova Scotia
Royal Bank of Canada
National Bank of Canada
Canadian Imperial Bank of Commerce