Kraken Unveils Plan for Onshore Bitcoin Perpetual Futures

Kraken has announced plans to launch Commodity Futures Trading Commission (CFTC)-regulated perpetual futures contracts for Bitcoin (BTC) in the United States within 30 days.

The move follows the CFTC's approval of the instruments for domestic trading, allowing Kraken to bring its services onshore through a CFTC-regulated venue. The contracts will be listed on Bitnomial Exchange, a CFTC-regulated venue owned by Kraken's parent company, Payward.

The launch is seen as significant in the US crypto market, where regulatory hurdles have previously limited access to such products. The CFTC has issued guidance on 24/7 trading, clearing, and settlement for crypto asset derivatives, noting their potential suitability for round-the-clock market structures.