Crypto exchange Kraken has launched a derivatives platform for US traders, offering access to CME-listed cryptocurrency futures and expanding the availability of institutional-grade trading tools.
On Tuesday, the exchange announced the launch of Kraken Derivatives US, providing access to futures contracts via the Kraken Pro platform. The move expands Kraken’s product suite by expanding futures trading alongside its existing spot market offerings.
According to Kraken Pro, access to Kraken Derivatives US has been rolled out initially in Vermont, West Virginia, North Dakota, Mississippi and Washington, D.C.
Kraken Derivatives US is regulated by the Commodity Futures Trading Commission (CFTC), following Kraken’s $1.5 billion acquisition of NinjaTrader — one of the largest mergers in crypto history.
Before the acquisition, NinjaTrader had built a strong reputation as a retail futures brokerage, specializing in equity derivatives and offering access to commodity markets.
When the deal closed in May, Kraken said it planned to expand its offerings across both the Kraken and NinjaTrader platforms to include stocks, options and prediction markets.
Kraken remains one of the largest spot crypto exchanges in the world, with daily volumes exceeding $1.7 billion as of Tuesday, according to CoinMarketCap.
Related: Kraken finalizes NinjaTrader buy as Q1 revenue jumps 19%
Crypto derivatives market sees significant expansion as DEX volume grows
The crypto derivatives market has grown substantially since CME Group and CBOE launched Bitcoin (BTC) futures contracts in late 2017.
By 2025, total crypto derivatives volume is expected to surpass $23 trillion, according to data from OKX.
Bitcoin derivatives have led this surge, with open interest exceeding $70 billion in the first half of the year. In contrast, Ether (ETH) and altcoins continue to face “liquidity challenges,” OKX noted.
Within the derivatives market, perpetual contracts have experienced faster growth than futures, according to CoinMarketCap data. Volumes on perpetuals, which are contracts with no expiration date, have grown by 150% over the past year.
Crypto derivatives volumes are also growing on decentralized exchanges, also known as DEXs. According to recent forecasts from dYdX, DEX derivatives volumes are projected to reach $3.5 trillion in 2025 — more than double the $1.5 trillion recorded last year.
Related: Standard Chartered launches Bitcoin and Ether trading for institutions