Kraken raised the maximum leverage available on ETH/USD spot margin positions to 20x on September 2 for eligible Kraken Pro traders in selected markets. The change applies only to ETH/USD margin, not futures or other trading pairs, and is available through the existing margin workflow without a new account type or interface. Kraken said its margin engine, order flow, account structure, fees and controls—including liquidation price, margin ratio, take-profit orders and stop-loss orders—remain unchanged. The higher ceiling can allow traders to commit less capital to the same position or take greater exposure with the same allocation, but it also increases potential losses, including losses exceeding the initial investment. Eligibility depends on jurisdiction and account status; traders must check Kraken Pro to determine whether 20x is available. The product is spot margin offered by Payward Trading Ltd in the British Virgin Islands, and Kraken announced no corresponding increase for Bitcoin, other crypto assets or derivatives.