TLDR
- Kraken launched perpetual futures trading for eligible US users through Bitnomial, a CFTC-regulated exchange it acquired earlier this year
- The contracts cover nine major cryptocurrencies including Bitcoin, Ether, Solana, XRP and Dogecoin
- Perpetual futures generated over $60 trillion in global trading volume in 2025, mostly on offshore platforms
- The CFTC had previously approved Kalshi’s Bitcoin perpetual contract and cleared a path for Coinbase in May 2026
- A CFTC no-action letter allowing regulated exchanges to convert futures into true perpetuals is set to expire end of June 2026
Kraken has launched perpetual futures trading for eligible US customers through its Kraken Pro platform. The contracts are listed on Bitnomial, a federally regulated exchange that Kraken’s parent company, Payward, acquired in April 2026.
US perpetual futures are live on Kraken Pro.
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The wait is over. https://t.co/49yfJXr9Ie pic.twitter.com/jktJZjbnNA
— Kraken Pro (@krakenpro) June 15, 2026
Perpetual futures — often called “perps” — let traders take long or short positions on assets without owning them. Unlike standard futures, these contracts have no expiration date. Positions can stay open as long as margin requirements are met.
The launch covers nine cryptocurrencies: Bitcoin, Ether, Solana, XRP, Cardano, Chainlink, Dogecoin, Litecoin and Avalanche. Traders can manage these alongside existing spot, margin, and CME-listed futures products from one account.
According to Kraken, perpetual futures generated more than $60 trillion in global trading volume in 2025. Most of that activity happened on offshore platforms rather than US-regulated venues.
How the US Regulatory Picture Changed
The launch follows a series of regulatory moves by the Commodity Futures Trading Commission. In May 2026, the CFTC approved Kalshi’s Bitcoin perpetual futures contract. It also issued guidance that cleared a path for Coinbase to connect US customers to global perpetual and options markets.
Kalshi launched its own perpetual contracts the same day the CFTC gave its approval. The platform reported over $1 billion in trading volume within its first week.
The CFTC also issued a no-action letter late last Friday. The letter allows regulated exchanges to remove expiration dates from futures contracts designed to resemble perpetuals. Exchanges must meet certain customer protection conditions, including notifying traders with open positions and giving them a chance to exit. The letter expires at the end of June 2026.
CFTC Chair Michael Selig said in January that the agency would use its existing authority to support perpetual futures. He said regulatory uncertainty had pushed trading offshore for years. He later said at the Milken Institute’s Future of Finance conference that the CFTC was working to build a proper framework for true perpetual futures in the US.
Kraken’s Path to This Launch
Kraken has been building its derivatives business over the past year. It acquired NinjaTrader in May 2025 and Bitnomial a year later. It added CME-listed crypto futures in July 2025 and launched margin trading for US customers earlier in June 2026.
Kraken’s head of derivatives John Palmer said adoption could follow a path similar to spot Bitcoin ETFs — with professional traders entering first, followed by investment advisers and asset managers once they complete internal reviews.
Kraken said it plans to expand the range of contracts and collateral options over time.
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