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Crypto

U.S. perpetual futures competition intensifies as Kraken joins Kalshi and Coinbase

Kraken will launch perpetual futures trading in the United States, The Block reported on June 15. The exchange has completed its acquisition of Bitnomial and received approval from the U.S. Commodity Futures Trading Commission to offer domestic crypto derivatives trading. Perpetual futures track price moves without expiry and use funding rates to align futures and spot prices. U.S. users have relied on offshore venues. The CFTC also recently approved products from Kalshi and Coinbase.

Crypto

Kraken says U.S. regulated perpetual futures market to follow bitcoin spot ETF playbook

A U.S.-regulated perpetual futures market is expected to be adopted by institutions in a way similar to the rollout of bitcoin spot exchange-traded funds in January 2024, CoinDesk reported, citing John Palmer (존 팔머), head of derivatives at Kraken. Palmer said professional traders would enter newly approved perpetual futures first, followed by large asset managers and investment advisers after internal due diligence and governance procedures.

Crypto

VanEck launches first U.S. spot BNB ETF VBNB

Asset manager VanEck has launched the first U.S. spot exchange-traded fund linked to Binance Coin (BNB). The ETF, ticker VBNB, allows U.S. investors to gain exposure to BNB through traditional brokerage accounts in an exchange-traded product structure. VanEck said the physically backed fund holds BNB kept in cold storage by a qualified custodian and is designed to track the spot price, with potential staking subject to regulatory and legal requirements.