Kraken Launches Bitcoin and Ether Options for Institutions, Targeting Europe With 30-Currency Collateral
Updated
Updated · Markets Media · Jul 28
Kraken Launches Bitcoin and Ether Options for Institutions, Targeting Europe With 30-Currency Collateral
3 articles · Updated · Markets Media · Jul 28
Summary
Kraken has rolled out European-style, cash-settled bitcoin and ether options on Kraken Pro for eligible professional and institutional clients, marking the first phase of a broader options buildout.
The exchange is using its MiFID license to push into regulated European crypto options, while leaving U.S. options plans undefined and focusing there on perpetual futures.
Trading initially runs through request-for-quote rather than a public order book, with portfolio margin enabled by default and collateral accepted in more than 30 currencies through a unified wallet.
Kraken said institutional demand is rising as crypto derivatives gain share: Cboe estimates 2025 crypto derivatives volume at about $111.5 trillion versus $25.3 trillion in spot turnover, a 4.4x ratio.
That growth comes as the market becomes more institutionalized despite a roughly 40% drop in total crypto market value from its October 2025 peak to about $2.49 trillion by May 2026.
With Deribit dominating the $111 trillion derivatives market, can Kraken's new regulated European crypto options actually steal the crown from Coinbase?
As Kraken launches cash-settled crypto options for institutions, will its ambitious multi-collateral margin system survive the next massive market crash?
Kraken is locking US traders out of its new crypto options, but what hidden regulatory fears are truly driving this strict European exclusivity?