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Crypto exchange Kraken is stepping into traditional finance by offering access to U.S.-listed stocks and exchange-traded funds (ETFs) in a strategic push to appeal to retail investors seeking a single platform for both equities and digital assets.
The company announced that U.S. clients in ten jurisdictions — including New Jersey, Connecticut, and the District of Columbia — can now trade over 11,000 stocks and ETFs commission-free through their Kraken accounts. The rollout is part of what Kraken describes as a “phased national expansion,” with more states to follow in the coming months.
The move makes Kraken, currently the world’s 13th largest centralized exchange by volume, one of the few crypto-native platforms bridging the gap between digital and traditional markets.
Crypto, Equities Under One Roof
Kraken’s new offering arrives at a time of growing demand for unified trading platforms. The company says its long-term goal is to bring traditional and digital assets together under a single infrastructure, using blockchain as the foundation for cross-asset trading.
“Crypto isn’t just evolving — it’s becoming the backbone for trading across asset classes,” Kraken co-CEO Arjun Sethi said in a statement. He added that this expansion into equities is a “natural step” toward enabling a tokenized, globally accessible financial system.
The announcement follows a turbulent two-week period for U.S. equity markets. Following President Donald Trump’s surprise tariff escalation on April 2, the S&P 500 lost more than $5 trillion in market capitalization — its steepest two-day decline on record, surpassing even the COVID-19 crash of March 2020.
Kraken’s stock and ETF launch, timed amid broader volatility, may offer traders a more diverse set of tools and assets in uncertain macroeconomic conditions.
While the initial rollout is limited to ten U.S. states and the District of Columbia, Kraken confirmed plans to extend stock trading access to international markets, including the United Kingdom, European Union, and Australia.
The move follows a broader industry trend toward tokenizing real-world assets and building 24/7 markets that mirror the liquidity and accessibility of crypto trading.
Kraken’s entrance into the equity space brings it into more direct competition with fintech platforms like Robinhood.
Meanwhile, Kraken is weighing a sizable debt raise of $200 million to $1 billion as it gears up for a potential public listing early next year. The fundraising is still in early stages, with Kraken said to be in discussions with major banks including Goldman Sachs and JPMorgan Chase. The proceeds would reportedly support the company’s expansion strategy, not cover operating costs.
Kraken has also been expanding into new markets. It recently closed a $1.5 billion deal to acquire NinjaTrader, a futures brokerage founded in 2003 and registered with the U.S. Commodity Futures Trading Commission.
