# US perpetual futures launch as Ethereum price slips below $1,870

**Published:** 2026-08-01T07:09:39.150Z  
**Topic:** Layer 2 Scaling  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/d02fff14-6048-4f3c-acdd-b94a569bca0d

US crypto perpetual futures debut, Kraken rolls out regulated perps and CBOE eyes conversion; ETH trades at $1,869.70, down 1%, signaling a shift in Ethereum’s

Ethereum fell 0.98% to $1,869.70 on June 13, 2026, as the U.S. derivatives market prepared to introduce regulated perpetual futures—a product that has dominated offshore trading and could reshape Ethereum’s utility in the sector【3】.

| At a glance | |
|---|---|
| ETH price | $1,869.70 |
| 24h change | –0.98% |
| Key level | $1,870 (near‑term support) |
| Catalyst | Kraken’s U.S. perpetual futures launch & CBOE’s conversion plan |

## Kraken leads U.S. perpetual futures rollout  
Kraken announced it will list regulated Bitcoin and Ether perpetual contracts on Kraken Pro after securing CFTC‑licensed platforms via its NinjaTrader and Bitnomial acquisitions. Head of derivatives John Palmer expects “sophisticated proprietary traders and retail users” to adopt the new products first, with larger asset managers following later【3】. The move mirrors the earlier rollout of spot Bitcoin ETFs, suggesting a pathway for broader institutional participation.

## CBOE weighs converting its futures to perps  
The Chicago Board Options Exchange is reportedly evaluating a shift from its existing continuous Bitcoin and Ether futures—launched in December 2023 with ten‑year expirations—to perpetual contracts that have no expiry date【2】. This potential conversion follows recent CFTC approvals that allow exchanges to list crypto perps, a regulatory backdrop that could accelerate U.S. market depth and reduce reliance on offshore venues such as Hyperliquid.

## Ethereum’s shifting role amid the perps boom  
Historically, Ethereum’s value proposition has centered on smart‑contract utility and DeFi activity, often measured by total value locked (TVL). The surge in perpetual futures, however, introduces a new demand for ETH as collateral and as the underlying asset for leveraged trading. While ETH’s price slipped below the $1,870 threshold, its on‑chain activity remains robust, but the market’s focus is increasingly on derivatives volume rather than traditional DeFi metrics.

## Market context  
Globally, perpetual futures now account for the vast majority of crypto derivatives volume, yet U.S. traders have been limited to offshore products until now【3】. The introduction of regulated perps could attract capital that previously stayed outside U.S. borders, potentially boosting ETH’s trading volume even as its spot price modestly declines.

## What to watch
- **$1,870 support** – a breach could trigger further downside pressure on ETH.  
- **CBOE conversion timeline** – any formal announcement may move futures pricing and impact ETH’s role as collateral.  
- **Kraken perps launch date** – the first day of trading could see a spike in ETH‑perp open interest.

The debut of regulated perpetual futures marks a pivotal moment for U.S. crypto markets, positioning Ethereum less as a pure DeFi engine and more as a cornerstone of leveraged trading. How quickly institutional players adopt these products will determine whether ETH’s price stabilizes or faces new volatility pressures.

## Sources
1. The Motley Fool — [What Is the Next Cryptocurrency to Explode in 2026?](https://www.fool.com/investing/stock-market/market-sectors/financials/cryptocurrency-stocks/next-crypto-to-explode/)
2. CoinTelegraph — [Crypto Biz: The cost of stacking sats](https://cointelegraph.com/news/cryptoquant-strategy-bitcoin-cboe-perpetual-futures-chainlink-stablecoin-fx)
3. CoinDesk — [Perpetual futures could become crypto's next ETF moment](https://www.coindesk.com/business/2026/06/13/perpetual-futures-could-become-crypto-s-next-etf-moment)

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Cite as: TrendWatcher, "US perpetual futures launch as Ethereum price slips below $1,870", https://www.trendwatcher.in/article/d02fff14-6048-4f3c-acdd-b94a569bca0d