Key Highlights
- Robinhood finalized its C$250 million purchase of WonderFi Technologies, a Toronto-based cryptocurrency company (approximately $180 million USD)
- The acquisition includes ownership of Bitbuy and Coinsquare, two regulated Canadian crypto trading platforms
- Robinhood’s international funded customer base now exceeds 1 million users
- WonderFi has been removed from Toronto Stock Exchange listings after transaction completion
- HOOD shares declined 3.8% Monday, finishing at $90.73
Shares of Robinhood (HOOD) ended Monday’s trading session at $90.73, marking a 3.8% decline as the company confirmed the completion of its WonderFi acquisition.
Initially revealed in May 2025, the transaction integrates WonderFi’s Canadian cryptocurrency infrastructure into Robinhood’s expanding ecosystem. WonderFi’s portfolio encompasses Bitbuy, Coinsquare, and Bitcoin.ca — all compliant platforms catering to Canadian retail investors and institutional clients in the digital asset space.
🇨🇦 ROBINHOOD LAUNCHES INTO CANADA WITH CRYPTO TAKEOVER
Robinhood has completed its $180M purchase of WonderFi, officially expanding into Canada through crypto platforms Bitbuy and Coinsquare.
The deal takes Robinhood past 1 MILLION international funded customers. pic.twitter.com/BDGnwGSkNi
— Coin Bureau (@coinbureau) June 2, 2026
The trading platform paid C$0.36 cash per share for WonderFi’s complete outstanding common stock holdings, amounting to roughly C$250 million on a fully diluted calculation. In US currency, this translates to approximately $180 million.
Originally scheduled to finalize in late 2025, the transaction timeline was extended by mutual agreement. This extension allowed Robinhood additional time to implement its proprietary technology infrastructure across Canada and satisfy regulatory requirements.
On July 21, 2025, British Columbia’s Supreme Court granted final authorization for the deal. WonderFi shareholders had approved the transaction at a special meeting conducted four days prior.
Trading of WonderFi securities on the Toronto Stock Exchange concluded Monday with its official delisting. The firm is also anticipated to terminate its reporting issuer status under Canadian securities regulations.
To execute the acquisition, Robinhood established Wrangler Holdings Inc., a dedicated holding company. WonderFi now functions as a fully-owned subsidiary within this structure.
Expanding Into Canadian Markets
Johann Kerbrat, Robinhood’s SVP and General Manager for Crypto & International divisions, 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.
Approximately 300,000 funded customers from WonderFi’s platforms will receive invitations to transition to the Robinhood application. This migration elevates Robinhood’s international funded user count beyond the 1 million milestone for the first time.
The company indicated its commitment to maintaining WonderFi’s established institutional partnerships throughout Canada, which are expected to complement the institutional crypto services Robinhood gained through its Bitstamp acquisition last year.
Wall Street Perspectives
KeyBanc continues to hold an Overweight rating on HOOD shares. Following Robinhood’s introduction of Agentic Trading, its artificial intelligence-powered trading capability, Mizuho elevated its price target to $115 while maintaining an Outperform stance.
With a market capitalization of $81.9 billion, Robinhood has delivered a 42.6% return to shareholders over the trailing twelve months.
The financial services firm has also attracted attention for serving as the inaugural trustee for the Trump Accounts application backed by the US Treasury, which facilitates investment account creation for minors.
On the legal front: Robinhood confronts possible US Supreme Court scrutiny regarding litigation connected to its initial public offering, with allegations claiming the firm provided misleading information regarding its financial position and expansion trajectory.
All broker warrants associated with the WonderFi transaction reached expiration on March 10, 2026, with no compensation distributed to previous warrant holders.
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