Kraken Launches U.S. Derivatives Trading, Eyes Multi-Asset Expansion

On July 15, 2025, cryptocurrency exchange Kraken launched Kraken Derivatives US, a regulated platform that allows U.S. clients to trade cryptocurrency futures listed on the Chicago Mercantile Exchange (CME), in addition to spot markets.

The platform offers seamless collateral transfers between futures and spot accounts, aiming to improve capital efficiency and enable more flexible trading strategies.

“With this launch, Kraken clients in the U.S. can now trade futures alongside one of the world’s most liquid cryptocurrency spot markets,” said Shannon Kurtas, Head of Exchange at Kraken. “It’s a meaningful step in providing broader market access within a regulated and high-performance environment.”

The new platform integrates with Kraken Pro, leveraging the exchange’s existing liquidity in spot markets while offering risk management tools suitable for professional and institutional traders.

Ambitions Beyond Crypto: Kraken’s Multi-Asset Strategy

The launch of Kraken Derivatives US follows Kraken’s $1.5 billion acquisition of NinjaTrader, a U.S.-based retail futures platform. The move lays the groundwork for Kraken’s broader ambitions in derivatives and multi-asset trading, positioning it to compete with other major players. Coinbase recently acquired Deribit, strengthening its own derivatives offerings.

Kraken’s plans extend beyond crypto futures. Later in 2025, the company aims to introduce trading for commodities, fixed income, foreign exchange (FX), and equity futures, signaling a strategic shift toward becoming a comprehensive multi-asset trading platform.

This expansion leverages NinjaTrader’s existing regulatory and technological infrastructure. In April 2025, Kraken also launched commission-free trading of more than 11,000 U.S.-listed stocks and ETFs in select states, through a partnership with brokerage platform Alpaca—part of its broader effort to serve retail investors seeking diversified portfolios.

Performance Metrics and Trading Incentives

According to its official website, Kraken Derivatives US has average daily trading volumes exceeding $1 billion, with access to over 350 futures markets and an average execution time of 45 microseconds.

These performance metrics are intended to appeal to high-frequency and institutional traders.

To mark the launch, Kraken is hosting a futures trading competition from July 16 to July 28, offering a $20,000 prize pool shared among the top ten participants. New users can also receive $20 in loss protection and a $20 trading bonus. The platform features public leaderboards tracking trader performance based on profit and loss (P&L), return on investment (ROI), and trading volume over 7-day and 30-day periods.

While promotional efforts may attract new users, Kraken appears focused on long-term growth in the derivatives space by combining regulated access, trading incentives, and integration across crypto and traditional asset classes.