Kraken Expands Proprietary Trading Program with S&P 500 Perpetual Product

US-based crypto exchange Kraken has expanded its proprietary trading program (Kraken Prop) by adding an S&P 500 perpetual product, providing funded traders with round-the-clock exposure to the US equity benchmark.

The new product is structured as a perpetual priced off an index oracle tracking the S&P 500 and does not have an expiration date or rollover requirement. This means that traders can access the S&P 500 market across Kraken Prop's evaluation and funded accounts with up to 5x leverage and a maximum notional exposure of $1 million.

Kraken Prop allows traders to purchase an evaluation plan, which starts at $20, with the possibility of qualifying for a funded account with sizes ranging from $5,000 to $200,000. The S&P 500 perpetual product joins the Nasdaq 100 as the second traditional market available through Kraken Prop.

The company plans to add commodities as part of a broader multi-asset rollout. This move follows Kraken's expansion into traditional financial products, including offering retail investors access to Jersey Mike's initial public offering through direct share allocations in the US and tokenized shares in over 110 countries.