US-based cryptocurrency exchange Kraken has expanded its proprietary trading initiative, Kraken Prop, by integrating an S&P 500 perpetual product into its funded trading platform. According to a Wednesday announcement, the new offering provides traders with 24/7 exposure to the benchmark US equity index. Unlike traditional futures contracts, the product is priced using an index oracle and functions as a perpetual contract without expiration dates or rollover requirements.
The S&P 500 becomes the second traditional asset index available through the program, joining the Nasdaq 100. Kraken stated that it plans to add commodities in future updates as part of a broader strategy to establish a comprehensive multi-asset environment. Eligible participants across Kraken Prop’s evaluation and funded accounts can access the S&P 500 market with leverage up to 5x and a maximum notional position size of $1 million.
Under the Kraken Prop structure, traders buy an evaluation plan, with entry costs starting at $20, and must meet specific performance metrics to qualify for funded capital ranging from $5,000 to $200,000. This launch aligns with Kraken’s ongoing expansion beyond pure digital asset trading, following its July release of direct and tokenized share allocations for Jersey Mike’s initial public offering across domestic and international jurisdictions.
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