Kraken Launches Crypto Perps Trading in US on Kraken Pro

Kraken launched perpetual futures trading in the United States on Kraken Pro, following its completed acquisition of Bitnomial in May and the Commodity Futures Trading Commission's approval of onshore crypto derivatives trading. The launch provides US users with direct access to perpetual contracts—derivative instruments offering continuous exposure to underlying assets like BTC or ETH without expiration—on a regulated platform. The CFTC, during the second Trump administration, moved to onshore crypto derivatives as part of positioning the US as a crypto hub, approving Kalshi's Bitcoin perp and Coinbase's perpetual-style futures late last month. US users have historically had limited direct access to true perpetual futures on regulated platforms and often turned to offshore venues with associated regulatory uncertainty and counterparty risks.

Kraken Completed Bitnomial Acquisition in May

Kraken completed its acquisition of Bitnomial in May. Bitnomial is a fully CFTC-licensed exchange, clearinghouse, and brokerage. The acquisition enabled Kraken to offer regulated perpetual futures to US users on Kraken Pro.

CFTC Approved Onshore Crypto Derivatives Late Last Month

The CFTC approved Kalshi's listing of the first official Bitcoin perpetual (BTCPERP) in the US late last month. The agency also approved Coinbase's perpetual-style five-year long-dated futures designed to mimic perpetual contracts. Kalshi's bitcoin perps have garnered over $1 billion in volume. Offshore exchanges like Binance and Bybit, which dominate perps volume, are supposed to restrict US users.

Kraken Acquired NinjaTrader to Support Derivatives Expansion

Kraken acquired CFTC-registered NinjaTrader to support the rollout of Kraken Derivatives US in mid-2025. Kraken Derivatives US offered CME-listed crypto futures including BTC, ETH, and SOL. The moves scale Kraken's derivatives business in the US market.

FAQ

What did Kraken launch in the US on Kraken Pro?
Kraken launched perpetual futures trading in the United States on Kraken Pro, following its acquisition of Bitnomial in May and CFTC approval of onshore crypto derivatives trading.

Why did the CFTC approve onshore crypto derivatives?
The CFTC, during the second Trump administration, moved to onshore crypto derivatives as part of positioning the US as a crypto hub, approving Kalshi's Bitcoin perp and Coinbase's perpetual-style futures late last month.

What other acquisitions did Kraken make for its derivatives business?
Kraken acquired CFTC-registered NinjaTrader to support the rollout of Kraken Derivatives US in mid-2025, which offered CME-listed crypto futures including BTC, ETH, and SOL.