Kraken ‘plans’ regulated perp contracts as rivals are quick off the blocks
Kraken says it plans to offer CFTC-regulated Bitcoin perpetual futures to US institutions within 30 days after the regulator approved the product.
Intelligence analysis by GPT-5.4 Mini
Kraken is moving to bring Bitcoin perpetual futures onto a US-regulated venue, saying it expects a launch within about a month after the CFTC approved the instrument. The announcement comes as Coinbase and Kalshi also move quickly to capture the newly regulated US perp market.
A big crypto company called Kraken wants to let large US customers trade a special kind of Bitcoin bet that can keep going without an end date. The government group that watches this kind of trading, the CFTC, just approved the idea.
Think of it like a race where several stores are trying to open the first new game room in town. Kraken says it wants to open soon, and Coinbase and another company are trying to move fast too.
The important part is that these trades may move from faraway places into a US place with more rules. That could change where big traders go and who gets their money.
Analysis
Kraken’s move
Kraken said late Friday that it expects to launch CFTC-regulated perpetual futures contracts in the US within the next 30 days. The exchange tied the plan to the regulator’s recent approval of perpetual futures contracts linked to the spot price of Bitcoin.
According to the article, the contracts would be listed on Bitnomial Exchange, a CFTC-regulated venue recently acquired by Kraken’s parent company, Payward. Payward announced on April 17 that it was buying Bitnomial for as much as $550 million, and said the deal was meant to give Kraken Pro customers access to Bitnomial’s perpetual futures offering.
Filing questions and timing
The story notes a wrinkle: although Kraken said a filing had been submitted on Friday, no specific Bitcoin perpetual contract filing was found among Bitnomial’s recent CFTC filings as of Sunday morning. The article also says requests for more information sent to two Kraken executives and Bitnomial’s chief regulatory officer were not immediately answered. It adds that companies sometimes seek confidential treatment for applications, which can make public confirmation harder to see right away.
A faster regulated US market
Kraken’s timing matters because it joins a quick response from rivals. Shortly after the CFTC approval on Friday, Coinbase Financial Markets said it was ready to offer US institutional clients access to global crypto options and perpetual futures through regulated infrastructure tied to Deribit, which Coinbase acquired in August 2025.
The broader policy backdrop is a push to bring perpetual trading onshore. The article says the SEC and CFTC said in September they would explore ways to move perpetual futures into the US market, which had mostly been offshore because of regulatory and jurisdictional limits. CFTC chair Michael Selig framed the development as bringing crypto perpetuals under “American oversight,” according to the article. The CFTC also issued guidance on 24/7 trading, clearing, and settlement, saying crypto derivatives may fit around-the-clock markets particularly well.
Key points
- Kraken says it expects to launch CFTC-regulated Bitcoin perpetual futures in the US within about 30 days.
- The contracts would be listed on Bitnomial Exchange, which is CFTC-regulated and now owned by Kraken parent Payward.
- The article says no specific Bitcoin perp filing was visible in recent Bitnomial CFTC records as of Sunday morning.
- Coinbase and Kalshi also moved quickly after the CFTC approval, signaling a race for regulated US perp trading.
- The story frames the shift as part of a broader push to bring perpetual futures onshore under US oversight.
