Robinhood (HOOD) closed Monday at $90.73, down 3.8% on the day the WonderFi deal was confirmed complete.
The acquisition, announced back in May 2025, brings WonderFi’s Canadian crypto operations fully under Robinhood’s umbrella. WonderFi owns Bitbuy, Coinsquare, and Bitcoin.ca — all regulated platforms serving Canadian retail and institutional crypto users.
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 paid C$0.36 per share in cash for all outstanding WonderFi common stock, totalling approximately C$250 million on a fully diluted basis. That works out to around $180 million USD.
The deal had originally been expected to close in the second half of 2025. Both parties extended the deadline to allow Robinhood time to deploy its proprietary technology in Canada and clear regulatory hurdles.
The Supreme Court of British Columbia issued its final approval on July 21, 2025. WonderFi securityholders voted in favor at a special meeting held four days earlier.
WonderFi’s stock was delisted from the Toronto Stock Exchange at the close of trading Monday. The company is also expected to cease being a reporting issuer under Canadian securities law.
Robinhood created a holding entity, Wrangler Holdings Inc., to complete the transaction. WonderFi now operates as a wholly-owned subsidiary.
Johann Kerbrat, SVP and General Manager of Robinhood Crypto & International, called WonderFi “an ideal partner to accelerate Robinhood’s mission in Canada,” citing the firm’s experience running regulated platforms for both beginner and advanced crypto users.
WonderFi’s approximately 300,000 funded customers will be invited to migrate to the Robinhood app. That pushes Robinhood’s total international funded customer base past 1 million for the first time.
Robinhood said it will continue supporting WonderFi’s local institutional partnerships, which it expects to build on the institutional crypto business it entered through last year’s Bitstamp acquisition.
KeyBanc has maintained its Overweight rating on HOOD. Mizuho raised its price target to $115, keeping an Outperform rating, after Robinhood launched its new AI trading feature, Agentic Trading.
Robinhood currently carries a market cap of $81.9 billion and has returned 42.6% over the past year.
The company is also in the spotlight for its role as initial trustee for the US Treasury’s Trump Accounts app, which creates investment accounts for children.
One separate legal matter: Robinhood faces a potential US Supreme Court review over a lawsuit tied to its IPO, which alleges the company misled investors about its financials and growth prospects.
All broker warrants tied to the WonderFi deal expired on March 10, 2026, with no consideration paid to former holders.
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