Crypto Daily｜Kraken Debuts U.S. Perpetual Futures as Crypto Derivatives Move Onshore; Strategy Raises Cash Reserves to $1.1 Billion, Buys More Bitcoin

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Kraken debuts U.S. perpetual futures as crypto derivatives move onshore

Kraken began offering regulated perpetual futures to U.S. customers, marking a significant step in bringing one of crypto's most popular trading products into the country after years of activity concentrated on offshore venues.

The contracts are available through Kraken Pro and are listed on Bitnomial, the Commodity Futures Trading Commission (CFTC)-regulated exchange acquired earlier this year by Kraken's parent company, Payward. Traders can access the products alongside spot trading, margin trading and CME-listed crypto futures through a single interface, the company said in a blog post Monday.

Strategy Raises Cash Reserves to $1.1 Billion, Buys More Bitcoin

Strategy padded its cash cushion for a second straight week while expanding its Bitcoin holdings, setting aside more resources for paying dividends and managing debt.

The Bitcoin-buying firm’s so-called USD Reserve now stands at $1.1 billion, Strategy announced on Monday. The balance had fallen as low as $871 million last month after the company moved to repurchase a portion of its convertible debt at a discount.

Bitmine adds another $136 million of ether after raising $274 million in preferred stock sale

BitMine Immersion Technologies (BMNR), the largest Ethereum-focused treasury company, continued its purchase streak after raising fresh capital through a preferred stock sale.

The firm acquired 76,881 ether (ETH) over the past week, worth roughly $136 million based on ETH's current price, lifting Bitmine's treasury to 5.62 million ETH.

The company also held 204 bitcoin, $502 million in cash and marketable securities and stakes in Beast Industries and Eightco Holdings, bringing total crypto, cash and investment holdings to $10.4 billion.

Bitcoin & Ethereum Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Thursday was $64.09 million. The total net asset value of Bitcoin spot ETFs is $83.33 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.25%.

The Bitcoin spot ETF with the highest net outflow on June 15 was Grayscale Bitcoin Trust, with a net outflow of $124.01 million, according to SoSoValue.

Source: SoSoValue