Kraken Plans US Regulated Perpetual Futures Launch Within 30 Days

Key Point

Kraken said it expects to launch CFTC-regulated perpetual futures contracts in the US in the next 30 days. When Kraken gains approval, the contracts will be listed on Bitnomial Exchange. Payward said on April 17 that it was acquiring Bitnomial for as much as $550 million to give Kraken Pro customers access to Bitnomial's perpetual futures offering. Kraken said a filing had been submitted on Friday, but no filing for a specific Bitcoin perpetual contract was found among Bitnomial's recent CFTC filings as of Sunday morning. CFTC staff issued guidance on 24/7 trading, clearing and settlement on Friday, and CFTC chair Michael Selig said crypto asset perpetual contracts should exist under American oversight, standards and rule of law.

Why it matters: Regulated US perpetual futures could shift offshore crypto derivatives activity toward supervised venues if approvals and listings proceed.

Market Sentiment

Cautiously Bullish, Policy-driven, Re-risking.

Reason: Kraken's expected US launch through a CFTC-regulated venue could improve regulated access without confirming that approval has arrived.

Similar Past Cases

In 2017, CME's Bitcoin futures plan gave institutions a regulated derivatives access path, and CNBC reported that Bitcoin rose above $6,400 after the announcement. (CNBC) The current case concerns perpetual futures, and Kraken still describes approval as expected.

Ripple Effect

Regulated perpetual futures could move some derivatives liquidity from offshore venues to US-supervised venues. If approval and listing details become public, then traders can better judge whether the shift is broad access expansion or a single-venue product rollout.

Opportunities & Risks

Opportunities: If Bitnomial lists the contracts after approval, then stronger regulated venue liquidity is a potential entry signal for traders who already use perpetual futures.

Risks: If approval is delayed or filing details remain absent, then reducing leverage limits downside from event disappointment.