Kraken is making crypto perpetual futures, contracts designed to track spot prices indefinitely with no set expiry, available to eligible U.S. traders through a regulated U.S. venue. Until now, these contracts have been a mainstay of offshore exchanges, where more than $60 trillion in global perpetual futures volume was traded in 2025. The key change is that Kraken now has a domestic route for these trades: they’re offered in Kraken Pro and listed through Bitnomial, the U.S. derivatives venue Kraken recently acquired. That means the trade, clearing, and brokerage functions now sit inside a regulated U.S. setup instead of sending traders offshore.
That shift could matter for both traders and market structure. U.S. demand for perpetuals has long existed, but most activity has remained outside the domestic regulatory perimeter. The CFTC published a no-action letter on digital commodity perpetual futures on June 12, just days before Kraken’s launch. What comes next is whether regulated access can attract meaningful U.S. volume onshore. If traders find the liquidity and convenience they expect, that could change how crypto derivatives are traded and managed in the U.S.