The EEA rollout adds USD-settled contracts to existing derivatives accounts, with shared futures collateral and portfolio margin on by default.
Eligible traders in the European Economic Area can now trade Bitcoin and Ethereum options through their existing Kraken Pro derivatives accounts on web and mobile, Kraken announced Oct. 26. The contracts use the collateral already supporting their futures positions.
That extends an options rollout Kraken began in July for eligible professional and institutional clients. At that point, European access was scheduled for later in 2026. The October announcement confirms availability in EEA countries where Kraken offers derivatives, with an options appropriateness assessment required before trading.
The contracts are cash-settled. Premium, profit and loss, and final settlement are calculated in U.S. dollars, even when collateral is posted in another accepted currency. Expiries run from weekly and monthly contracts to quarterly and semiannual maturities.
Kraken accepts 30-plus currencies as collateral. Portfolio margin is enabled by default, so offsetting positions can lower the amount required to support the portfolio. Futures and options draw on the same pool, giving existing derivatives clients a shared source of collateral for both types of trade.
The options use futures-style margining: premium is not paid upfront, while gains and losses are marked against collateral. Options do not accrue funding payments, although perpetual contracts in the same account still do.
Kraken warns that buyers can lose their entire options position value, while sellers can lose substantially more than posted margin and may face unlimited losses.
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