Crypto exchange Kraken has begun accepting select tokenized stocks and exchange-traded funds (ETFs) as collateral for futures and margin trading, allowing eligible users to open leveraged positions without selling their holdings.
The feature initially supports 10 tokenized stocks and ETFs, including Apple, Nvidia, Tesla, Strategy, the SPDR S&P 500 ETF and Invesco QQQ Trust. Eligible users can post those holdings as collateral without selling them first. Each eligible asset is assigned a collateral haircut that reduces its lending value based on risk.
Broad-market ETFs receive the lowest haircut at 10%, while more volatile stocks such as Strategy and Robinhood are discounted by 30%. Kraken also imposed collateral limits on each asset, with broad-market ETFs capped at as much as $1 million in collateral value, most individual stocks at $250,000 and tokenized gold and Circle shares at $100,000.
The exchange said both collateral limits and haircuts will be reviewed periodically and remain subject to change. The feature is available only to eligible clients outside the United States.
Still selling your $NVDAx to free up margin?
You don’t have to. On Kraken Pro, 10 xStocks now work as collateral for futures and margin.
Get started ⤵️https://t.co/q8RC71o4L7 pic.twitter.com/UaNk43tLyx
— Kraken Pro (@krakenpro) July 5, 2026
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