Kraken announced that it has begun rolling out linear Bitcoin and Ethereum options settled in U.S. dollars. The new product allows traders to use contracts whose value and settlement are denominated in USD without receiving the underlying asset at exercise.

The first phase covers BTC and ETH options. Kraken describes the launch as the beginning of a broader crypto derivatives offering for customers seeking hedging tools, volatility management and directional strategies.

Options provide the right, but not the obligation, to buy or sell an asset at a specified price. Their time-limited structure and non-linear payouts introduce additional risks compared with spot trading. Access to the product depends on customer eligibility and local jurisdiction.