Markets Kraken Launches U.S. Perpetual Futures Amid Shift in Crypto Derivatives
According to Kraken, perpetual futures generated over $60 trillion in trading volume last year, primarily outside the United States.
By Helene Braun, AI Boost | Edited by Sheldon Reback Jun 15, 2026, 2:07 p.m. 2 min read
Kraken has started offering regulated perpetual futures to U.S. clients via Kraken Pro, marking a significant move to bring a popular crypto derivatives product into the U.S. market.
This initiative follows recent regulatory guidance that has paved the way for licensed platforms to list perpetual futures, along with Kraken's acquisition of Bitnomial and other futures-related infrastructure.
The initial offerings from Kraken’s perpetual futures include prominent cryptocurrencies such as bitcoin, ether, and solana, with intentions to broaden the variety of contracts and collateral options in the future.
- Kraken has launched CFTC-regulated perpetual futures for U.S. customers through Kraken Pro, introducing a crucial crypto derivatives product into the largest economy.
- This move comes after recent guidance that has allowed regulated platforms to list perpetual futures and follows Kraken's acquisition of Bitnomial and other futures infrastructure.
- The perpetual futures from Kraken initially encompass major cryptocurrencies like bitcoin, ether, and solana, with plans to expand the selection of contracts and collateral options over time.
Kraken’s introduction of regulated perpetual futures is a notable advancement in the U.S. crypto landscape, especially as trading activity has largely been focused offshore until now.
These contracts are accessible through Kraken Pro and are listed on Bitnomial, which is a Commodity Futures Trading Commission (CFTC)-regulated exchange acquired by Kraken's parent company, Payward, earlier this year. Traders can utilize these products alongside spot trading, margin trading, and CME-listed crypto futures within a single interface, as the company detailed in a blog post released Monday.
Perpetual futures, commonly referred to as "perps," allow traders to assume long or short positions on assets like bitcoin BTC$66,593.15 without needing to own them and without a specified expiration date. Unlike traditional futures, positions can be maintained indefinitely as long as margin requirements are fulfilled.
These products have emerged as the leading form of crypto derivatives trading on a global scale. Kraken reports that the annual trading volume for perpetual futures exceeded $60 trillion in 2025.
A significant portion of this activity has taken place on offshore exchanges, including rapidly growing platforms like Hyperliquid, which have drawn professional traders in search of substantial liquidity and constant access to leveraged markets. The prediction market Kalshi, which debuted perpetual futures on its platform earlier this month, recorded over $1 billion in trading volume within just a week.
This launch comes shortly after the CFTC indicated that regulated platforms could offer perpetual futures. In May, the agency approved Kalshi's bitcoin perpetual contracts and provided guidance that also allows Coinbase (COIN) to connect U.S. customers to global options and perpetual markets.
Kraken has been preparing for this introduction through a series of acquisitions and product launches focused on derivatives. The company acquired NinjaTrader in May 2025 and Bitnomial a year later to establish a regulated futures framework. Recently, it also added CME-listed crypto futures and margin trading for U.S. clients.
John Palmer, Kraken's head of derivatives, mentioned to CoinDesk last week that the adoption of these products could follow a similar trajectory to that of spot bitcoin exchange-traded funds (ETFs), where sophisticated traders enter the market first, followed by investment advisors and asset managers after conducting internal evaluations.
At its launch, Kraken's perpetual futures cover key cryptocurrencies, including BTC, ETH, SOL, XRP, ADA, LINK, DOGE, LTC, and AVAX. The company intends to broaden the range of contracts and collateral options over time.