Kraken launched Bitcoin and Ethereum options for professional clients on July 16 and plans to expand the platform to eligible European customers in the second half of 2026. The exchange has not yet announced a specific launch date or which European jurisdictions will gain access first. The options are cash-settled, European-style contracts that can only be exercised at expiry, contrary to what the name might suggest. The rollout is part of Kraken’s broader push into regulated crypto derivatives, building on its existing regulatory licenses in Cyprus and Ireland.
Kraken expanded its product lineup with European-style, cash-settled BTC/USD and ETH/USD options for eligible professional and institutional clients on July 16. The contracts are available with weekly, monthly, quarterly and semi-annual expiries.
Trading currently operates through a request-for-quote (RFQ) system rather than a public order book. The term “European-style” refers to contracts that can only be exercised at expiry, not to geographic availability.
Kraken plans to extend the options platform to eligible European clients during the second half of 2026. The exchange also intends to introduce a central order book and broaden support for additional assets and regions over time, but has not yet published a country-by-country rollout schedule.
The planned expansion would strengthen Kraken’s position in Europe’s growing crypto derivatives market, where exchanges are increasingly competing for institutional and professional traders. Unlike standalone derivatives platforms, Kraken’s options will operate alongside its existing spot and futures products through a single portfolio-margined wallet.
Eligible clients can manage collateral more efficiently across different trading strategies. The exchange supports more than 30 collateral currencies, reducing the need to move assets between separate accounts.
Kraken’s derivatives expansion builds on its existing regulatory footprint in Europe. Payward Europe Digital Solutions [CY] Limited holds a Cyprus Investment Firm licence (342/17), according to the Cyprus Securities and Exchange Commission.
Separately, Kraken says its broader European crypto business operates under a Markets in Crypto-Assets (MiCA) authorisation obtained through the Central Bank of Ireland. Those approvals do not mean the new options products are already available throughout Europe.
The next milestone will be confirmation of the launch date, eligible jurisdictions and the transition from the current RFQ model to a public order book. Until then, Kraken’s options business remains an expansion plan rather than a fully deployed European service.
