Anthropic IPO speculation drives $80M in crypto futures trading
Trading volume surges ahead of potential November listing
Derivatives traders have wagered nearly $80 million on the outcome of Anthropic’s upcoming initial public offering (IPO) using crypto markets. This activity is occurring even though the developer of the Claude AI model is still a private company and has not yet set a final offering price.
According to data from CoinGlass, open interest in futures contracts linked to Anthropic has reached approximately $79.27 million. This figure is close to a record level for this instrument. The trading is happening as the company prepares for a public debut that could value it at up to $2 trillion, which would place it among the largest IPOs attempted to date.
Key figures from crypto exchanges
- The ANTHROPIC pre-stock contract traded around $2,147, with over $20 million in volume in the last 24 hours.
- Binance accounts for roughly 40% of the trading activity for these specific derivatives.
- Open interest for Anthropic and OpenAI pre-IPO perpetuals combined surpassed $160 million this month.
- This increase represents a jump from roughly $1 million in April, highlighting a rapid expansion in these markets.
How these contracts differ from traditional stocks
It is important to note that these crypto contracts do not represent ownership in Anthropic. The instruments are cash-settled derivatives, meaning they do not require actual company shares to back the trade. Instead, the price reflects the market's collective guess on what the company will be worth when it eventually goes public. This structure allows crypto exchanges to offer price discovery for major private tech companies before traditional equity investors can buy shares on public stock markets.
The movement in these markets is sensitive to company news. For example, OpenAI-linked instruments fluctuated when the company released its Astra model and when its CEO, Sam Altman, suggested that an IPO might be delayed. Traders are now watching Anthropic for similar signals, particularly as Reuters reported that the company may release a new AI model before its listing.
What is confirmed by official filings
Anthropic confidentially filed a draft registration statement with the US Securities and Exchange Commission (SEC) in June. At that time, the company stated that it had not determined the number of shares to offer or their price. The Wall Street Journal reported that Anthropic has shifted its planned IPO to November, which is later than the October timeline investors had previously expected.
Circle CEO urges public transition
Jeremy Allaire, Chief Executive of Circle, has publicly encouraged Anthropic to proceed with its listing. Allaire argued that the company should "take the leap" into public markets. He suggested that increased scrutiny from public shareholders would actually strengthen the company's governance, rather than weaken it, despite concerns about market volatility and AI safety.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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