Kraken Launches Regulated Crypto Perpetual Futures for U.S. Traders

Kraken has officially launched regulated perpetual futures for U.S. customers, marking a major milestone for the American cryptocurrency derivatives market. The new offering allows traders to access one of the most popular crypto trading products through a regulated framework, a significant shift from the offshore platforms that have historically dominated perpetual futures trading.

The perpetual futures contracts are available via Kraken Pro and are listed on Bitnomial, the Commodity Futures Trading Commission (CFTC)-regulated exchange acquired by Kraken’s parent company, Payward, earlier this year. Through a single platform, users can now trade spot cryptocurrencies, margin products, CME-listed crypto futures, and perpetual futures.

Perpetual futures, commonly known as “perps,” enable traders to speculate on the price movements of digital assets such as Bitcoin without owning the underlying asset. Unlike traditional futures contracts, perpetual futures do not have expiration dates, allowing positions to remain open indefinitely as long as margin requirements are maintained.

Crypto perpetual futures have become the leading segment of the global digital asset derivatives market. According to Kraken, annual trading volume for perpetual contracts exceeded $60 trillion in 2025. Much of this activity has been concentrated on offshore exchanges, including platforms like Hyperliquid, which have attracted professional traders seeking liquidity and continuous leveraged trading opportunities.

Kraken’s launch follows recent regulatory developments in the United States. In May, the CFTC approved bitcoin perpetual contracts offered by prediction market platform Kalshi and issued guidance that opened the door for regulated exchanges to provide similar products. The agency also recently released a no-action letter permitting regulated exchanges to convert perpetual-like futures contracts into true perpetual products, provided they meet specific customer protection requirements.

At launch, Kraken’s perpetual futures support major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), Litecoin (LTC), and Avalanche (AVAX). The company plans to expand both its contract offerings and collateral options in the future.

Kraken’s move strengthens its position in the growing U.S. crypto derivatives market and could accelerate broader institutional adoption of regulated perpetual futures trading.