Kraken has launched USD-settled options for Bitcoin and Ethereum on its Kraken Pro platform, targeting professional and institutional traders. The contracts are European-style and cash-settled, allowing users to trade options referencing BTC and ETH with expirations ranging from weekly to semi-annual.
Contract Features and Trading Conditions
The new options provide a dollar-settled alternative to crypto-settled derivatives, meaning profits and losses are realized in USD rather than the underlying cryptocurrency. This design offers clarity and simplicity for traders focusing on USD exposure. Position limits are set at 10 BTC for Bitcoin options and 100 ETH for Ethereum options. Portfolio margining is enabled by default, integrating spot, futures, and options positions within a single wallet, and accepts collateral in over 30 currencies.
Availability and Client Eligibility
At launch, the options are accessible exclusively to eligible professional and institutional clients via request-for-quote access on Kraken Pro. According to Alexia Theodorou from Kraken, the offering aims to broaden access through straightforward contract terms. The introduction of these contracts complements Kraken's existing suite of derivatives and aligns with recent developments in the crypto trading ecosystem, such as Visa’s enterprise stablecoin platform and tools for bitcoin asset recovery.
This material is for informational purposes and does not constitute financial advice.
