Key Highlights
- Robinhood finalized its purchase of WonderFi, a Toronto-headquartered crypto firm, for C$250 million (roughly $180 million USD)
- The acquisition includes Bitbuy and Coinsquare, two regulated Canadian cryptocurrency exchanges
- This transaction brings Robinhood’s international funded customer count beyond 1 million
- WonderFi has been removed from the Toronto Stock Exchange after deal completion
- HOOD shares dropped 3.8% on Monday, finishing at $90.73
Robinhood (HOOD) shares ended Monday’s session at $90.73, marking a 3.8% decline as the company officially completed its WonderFi acquisition.
First revealed in May 2025, the transaction incorporates WonderFi’s Canadian cryptocurrency business into Robinhood’s expanding ecosystem. WonderFi controls Bitbuy, Coinsquare, and Bitcoin.ca — all authorized platforms catering to Canadian individual and corporate cryptocurrency investors.
🇨🇦 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
Robinhood offered C$0.36 in cash for each WonderFi share, representing a total value of approximately C$250 million on a fully diluted calculation. This translates to roughly $180 million in US dollars.
Initially anticipated to conclude during the latter half of 2025, both companies agreed to extend the timeline to give Robinhood adequate time to implement its proprietary systems in Canada and navigate regulatory requirements.
Final authorization came from the Supreme Court of British Columbia on July 21, 2025. WonderFi shareholders approved the transaction during a special meeting conducted four days prior.
Trading of WonderFi shares ceased on the Toronto Stock Exchange at Monday’s close. The organization is also anticipated to terminate its status as a reporting issuer under Canadian securities regulations.
Robinhood established a holding company, Wrangler Holdings Inc., to facilitate the deal. WonderFi now functions as a completely owned subsidiary.
Expanding Into Canada
Johann Kerbrat, SVP and General Manager of Robinhood Crypto & International, described WonderFi as “an ideal partner to accelerate Robinhood’s mission in Canada,” highlighting the company’s track record operating compliant platforms for both novice and experienced cryptocurrency traders.
WonderFi’s roughly 300,000 funded users will receive invitations to transition to the Robinhood platform. This addition propels Robinhood’s worldwide funded customer base beyond the 1 million milestone.
Robinhood confirmed it will maintain WonderFi’s existing institutional relationships, which the firm plans to leverage alongside the institutional cryptocurrency operations it acquired through last year’s Bitstamp purchase.
Wall Street Perspective
KeyBanc continues to hold an Overweight rating on HOOD shares. Mizuho increased its target price to $115 while maintaining an Outperform stance, following Robinhood’s introduction of its innovative AI trading capability, Agentic Trading.
Robinhood presently holds a market capitalization of $81.9 billion and has delivered a 42.6% return over the trailing twelve months.
The firm has also attracted attention for serving as the initial trustee of the US Treasury’s Trump Accounts application, which establishes investment accounts for minors.
On the legal front: Robinhood is potentially headed for US Supreme Court consideration regarding a class action lawsuit connected to its IPO, where plaintiffs claim the company provided misleading information about its financial performance and expansion trajectory.
All broker warrants associated with the WonderFi transaction expired on March 10, 2026, with previous holders receiving no compensation.
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