Kraken Makes a Surprise Move into Commission-Free Stock and ETF Trading
San Francisco, United States – Cryptocurrency exchange Kraken has officially entered the traditional financial arena by launching commission-free stock and ETF trading services for users in several US states. The move marks a new step in the product expansion strategy of Kraken, which is known as one of the oldest Bitcoin exchanges in the world.
According to an announcement from Kraken on Monday, more than 11,000 stocks and exchange-traded funds (ETFs) on the NYSE, NASDAQ, and other major exchanges are now available for direct trading on the platform. Initially, the service is only available to residents of states such as New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama, and Washington D.C., but Kraken has pledged to expand nationwide coverage in the near future.
“Expanding into stocks is a natural step given the growing need for 24/7 access to global finance. We want to provide our users with a seamless, all-in-one trading experience,” said Arjun Sethi, co-CEO of Kraken. He also emphasized that the expansion is a cornerstone of the company’s long-term strategy for tokenized assets.
Kraken’s move comes as the company is benefiting from a more regulatory-friendly environment under the Trump administration. Late last month, the U.S. Securities and Exchange Commission (SEC) officially dismissed its lawsuits against Kraken, ConsenSys, and Cumberland DRW, a move that was seen as a positive sign for the entire crypto industry.
Not stopping there, in March, Kraken also announced the acquisition of futures trading platform NinjaTrader for up to $1.5 billion, while confirming plans to go public in the near future.
Kraken is now planning to offer stock trading services to customers in the UK, Australia and Europe – a move that puts it in direct competition with leading global retail investment platforms such as Robinhood and eToro.
According to data from CoinGecko, Kraken has recorded over $1 billion in cryptocurrency trading volume in the past 24 hours, demonstrating the platform’s strong performance despite recent market volatility.
The integration of stocks and ETFs into Kraken’s trading ecosystem not only expands the investment options for users, but also reflects the convergence of traditional finance and digital assets – something that is becoming increasingly popular in the digital age.