According to @glassnode, the platform has expanded from on-chain foundations into a full-stack crypto derivatives platform and released a new Options Metric Suite, source: @glassnode. The update introduces options-focused metrics within Glassnode to serve platform users engaging with crypto derivatives markets, source: @glassnode. The announcement confirms broader derivatives support beyond on-chain analytics, source: @glassnode.

According to the source, Kraken acquired Small Exchange for $100M to launch a regulated derivatives trading platform in the United States, as stated in an X post dated Oct 16, 2025. The source did not disclose product scope, launch timing, or regulatory approvals in the post.