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Kraken has launched cash-settled bitcoin and ether options through Kraken Pro, marking a new step in its derivatives push. The exchange introduced European-style, USD-settled contracts through request-for-quote trading for eligible international clients. The rollout excludes Europe, North America, and Australia for now, while a European launch remains planned.
Kraken launched the products on Thursday and tied them to its existing Kraken Pro platform. The contracts settle in US dollars and follow European-style exercise terms. The exchange first made them available through request-for-quote execution.
The launch targets eligible international clients outside Europe, North America, and Australia. Kraken also said it expects a European rollout later. The exchange already holds the regulatory permissions needed to offer crypto derivatives in that region.
The new offering covers bitcoin and ether, two of the most actively traded digital assets. Kraken framed the launch as part of a wider effort to build a broader financial platform around trading, payments, and digital asset services.
Alexia Theodorou, Kraken’s director of derivatives, said crypto options still trail traditional markets by a wide margin. She said professional and institutional capital keeps moving into digital assets, which narrows that gap over time.
Theodorou said the larger opportunity lies in expanding the market rather than chasing market share alone. She said the current crypto options market serves a narrow group of traders and leaves room for broader participation.
She also said the slow growth of crypto options reflects product design rather than demand. According to her, many traders have favored perpetual futures because those products feel simpler and more familiar.
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Kraken designed the contracts as linear, USD-settled products. That structure removes the need to manage crypto collateral or settlement. Premiums, profit and loss, and final settlement all use US dollars.
The exchange also placed the options inside the same unified account that clients already use for spot and futures trading. Portfolio margin comes enabled by default, and offsetting positions can reduce collateral needs across products.
Kraken said users can also post collateral in more than 30 currencies. The company has added educational tools to its interface as well. Those tools explain calls, puts, and multi-leg positions for traders who use Kraken Pro.
Theodorou said options matter because they let investors take positions on price, volatility, and time. Kraken plans further updates, including a public order book for better price discovery, broader geographic access, and support for more assets.
Kraken has introduced USD-settled bitcoin and ether options through Kraken Pro for eligible international clients, expanding its derivatives offerings. The exchange plans further enhancements, including a European rollout, a public order book, and support for additional assets as it broadens access to crypto options trading.
