Kraken, a U.S.-based cryptocurrency exchange, added an S&P 500 perpetual product to its Kraken Prop trading program on Wednesday. The product is priced off an index oracle that tracks the S&P 500 and has no expiration date or rollover requirement. The perpetual contract is structured as a perpetual rather than a standardized futures contract, meaning it has no expiration date or rollover requirement. It joins the Nasdaq 100 as the second traditional market available through Kraken Prop. Traders can access the market via evaluation or funded accounts with up to 5x leverage and a maximum notional exposure of $1 million. Evaluation plans start at $20 and funded account sizes range from $5,000 to $200,000. The launch follows a July decision by Kraken to give retail investors direct share allocations for the Jersey Mike’s initial public offering and tokenized shares in more than 110 countries. The company plans to add commodities to the perpetual lineup as part of a broader multi‑asset rollout. The expansion reflects Kraken’s strategy to broaden its traditional market exposure within the crypto ecosystem.